Trains ordered for Busan metro Line 1
CRRC to supply Noida metro trains
Jakarta – Bandung DBOM concession agreed
Myanma Railways orders Indian locomotives
DBK-Leasing completes Ijara wagon deal
Bangkok railway engineering education agreement signed
Singapore sovereign wealth fund takes stake in Railpool
Bangkok monorail lines approved
Contactless ticketing to be tested in Singapore
Aspire Mining Ltd (ASX:AKM) stands to gain from the new cooperation agreement signed between Russia and Mongolia.
The agreement allows for Mongolian sourced freight to enjoy tariff discount on transit transport for its exports through Russia for 25 years.
Notably, Mongolian coal exports will receive a 66.4% discount and container transport a 52% discount on the Russian rail system.
Aspire executive chairman David Paull said: “This rail cooperation agreement has two important positive impacts for Aspire.
“The first is that it lowers rail transit costs through Russia to Far East Ports and potentially west to the Black Sea Ports to a point where it is competitive with transport costs to Northern Chinese customers, opening up a larger and more diverse customer base.
Paull added “The second impact is the agreement from the Mongolian Government side to cooperate to assist Russian exports south from the Russian city of Kyzyl to connect with the Erdenet – Ovoot Railway once the Northern Corridor is completed.”
Aspire is the owner of the world class Ovoot Coking Coal Project in Mongolia. The full realisation of the project is dependent on the construction of the Erdenet to Ovoot Railway.
The Erdenet to Ovoot Railway extends 549 kilometres between the town of Erdenet and Aspire’s Ovoot Coking Coal Project.
It forms part of the proposed Northern Rail Corridor which extends across northern Mongolia into southern Russia.
This article first appeared on www.proactiveinvestors.com.au
About this website
Railpage version 3.10.0.0037
All logos and trademarks in this site are property of their respective owner. The comments are property of their posters, all the rest is © 2003-2018 Interactive Omnimedia Pty Ltd.
You can syndicate our news using one of the RSS feeds.