Reuters: Mongolia coal rail plans delayed on financing issues – CORRECTED

Mongolia’s ambitious plan to build a railway network capable of delivering its surging coal output to foreign markets is likely to be delayed as a result of financing difficulties and bureaucratic deadlocks, government officials said on Friday. Purevbaatar Luvsandavag, vice-chairman of the Mongolia Railway Authority, told Reuters on the sidelines of the Coal Mongolia conference in Ulan Bator that the government had not even raised the $50 million required to fund a series of feasibility studies and project designs drawn up last year. (Corrects Enkhbaatar comments in final paragraph of Feb 10 story. Third phase of the project will be delayed until after 2017, not first and second phases). To read the full article, click here:  Mongolia coal rail plans delayed on financing issues – CORRECTED

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