Mongolia Seeks $1.3 Billion From China to Complete Coal Railway
- Officials are in China for talks on funding for the project
- Mongolia hopes for deal in next few weeks so work can start
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Mongolia is seeking a $1.3 billion loan from the Export-Import Bank of China to complete a railway connecting its Tavan Tolgoi coal deposit with the Chinese border, a project that has stalled because of lack of funds.
Officials from Mongolian Railway SOSC are meeting in China for talks with the bank to secure the loan, Idesh Ivshin, the company’s head of projects, said Monday in an interview in Ulaanbaatar.