The European Bank for Reconstruction and Development will provide a USD180 million loan to finance the construction of Mongolia’s first coal washing plant.
To date, the loan is EBRD’s largest investment in Mongolia, according to a news release from the bank.
The loan will be extended to private Mongolian mining company Energy Resources, which operates and owns the Ukhaa Khudag coal mine. It will be used for the construction of a coal handling and preparation plant at the said mine.
The plan is expected to help Energy Resources increase its exports and boost its competitiveness in local and international markets.