Bloomberg the Company & Products

Bloomberg Anywhere Login

Bloomberg

Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.

Company

Financial Products

Enterprise Products

Media

Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000

Communications

Industry Products

Media Services

Follow Us

Mongolia Plans to Build $3.5 Billion Highway, Montsame Reports

Don't Miss Out —
Follow us on:

April 1 (Bloomberg) -- Mongolia plans to build a $3.5 billion cross-country highway between its Russian and Chinese borders, state-run news agency Montsame reported.

The 627-mile-long highway will be built under a concession agreement and operated privately from 2015 to 2040, the news agency reported March 29. Foreign investors will provide the funding for 70 percent of the cost of construction while a Mongolian investment group called Chinggisland Development will bear the remainder, according to Montsame. North American and Italian companies will be involved, the agency reported, without identifying specific firms.

Construction of the road from Altanbulag on the Russian border to Zamyn-Uud on the Chinese frontier will start in May and is expected to finish in late 2015, Montsame reported.

The road will facilitate trade between China, Russia and Europe, the agency reported. It will also boost Mongolian trade volume and help develop towns, according to the report.

To contact the reporter on this story: Michael Kohn in Ulaanbaatar at mkohn5@bloomberg.net

To contact the editor responsible for this story: John Liu at jliu42@bloomberg.net

Please upgrade your Browser

Your browser is out-of-date. Please download one of these excellent browsers:

Chrome, Firefox, Safari, Opera or Internet Explorer.