$1.5 bln to be invested in development of Tavan-Tolgoi

The investment into the development of the coal deposit Tavan-Tolgoi in Mongolia might equal to about $1.5 bln, the President of RZD, V. Yakunin said, Vedomosti reports.
According to him, this amount concerns the offer of the monopoly on the condition of the joint development of the site.
The application for participation in the auction is submitted but there might be some changes in the project, Mr. Yakunin said.
On February 1st, 2011 Mongolia started the pre-qualification selection of the applications on development of the coal deposit Tavan-Tolgoi. RZD that develops the railway infrastructure in Mongolia (manages 50% of the Ulan-Bator railway) has formed a consortium with the Siberian energy company (SUEK) and with the Japanese Sumitomoto, Marubeni, Itochu, Sojitz and Korea Resourses for participation in the tender.
En+Group of O. Deripaska is among the Russian investors that want to participate in Tavan-Tolgoi. 15 companies have applied for Tavan-Tolgoi. Among them are the largest in the world steelmaking concern ArcelorMittal, the Brazilian Vale and the British-Swiss Xstrata,a consortium of the Japanese Mitsui and the Chinese Shenhua, American Peabody, Australian Fortescue Metals, Indian Mesco Steel and Chinese Erdos.  

http://www.rosinvest.com/news/788168/
Translated by Galiya Davletgareeva