In combination with its rail subsidiary Northern Railways LLC (Northern Railways), Mongolian metallurgical coal exploration and infrastructure company Aspire Mining Ltd has entered into:
- a Consortium Agreement with China Gezhouba Group International Engineering Co (CGGC), China Railway 20 Bureau Corp. Group (CR20BG) and China Railway First Survey and Design Institute Group Co Ltd (FSDI) to support the funding and development of the Erdenet to Ovoot railway project in Mongolia.
- a new EPC Framework Agreement between Northern Railways, CR20BG and CGGC which recognises the joint participation of the nominated EPC contractors for the Erdenet to Ovoot railway project.
According to Aspire Mining Ltd, with the combined resources of CGGC and CR20BG, the Erdenet to Ovoot railway project is now well placed to attract the necessary funding to build this key portion of the Northern Rail Corridor.
These agreements follow on from a previous announcement on 12 October 2017 where Northern Railways and CGGC entered into a binding agreement for CGGC to complete the Erdenet to Ovoot rail feasibility study by 31 March 2018. Under this agreement, CGGC has until 15 February 2018 to decide whether to make additional investments in Northern Railways to complete remaining conditions precedent relating to the Erdenet to Ovoot Rail Concession Agreement due to be completed by 20 August 2018.
Read the article online at: https://www.worldcoal.com/exploration-and-development/02022018/another-epc-contractor-selected-for-erdenet-to-ovoot-railway-project/