Lund – Malmö quadruple tracking contract
Prime Minister inaugurates Napoli Afragola station
ÖBB starts Pyhrnstrecke station upgrading
Weekly LCL service widens appeal of China-Europe rail route
Siemens to buy planning software company HaCon
Hupac orders eight multisystem locomotives
Montecargo privatisation cancelled
IONX and Ermewa agree telematics partnership
High-value chemicals travel from China to Europe by rail
DB Regio selected for Rhein-Neckar operating contract
Aspire Mining Ltd’s (ASX:AKM) revised framework agreement for the construction of the railway servicing its Ovoot Coking Coal Project in Mongolia will have a positive impact.
The Northern Railway’s Erdenet to Ovoot Railway Consortium Agreement has been amended to include China Gezhouba Group International Engineering Co Ltd (CGGC).
CGGC will be the nominated joint EPC contractor for the rail project, and in combination with the China Railway Construction Corp subsidiaries it will provide technical and operational expertise.
CGGC to assist in fundingThere will also be financial benefits as the group will support Northern Railways LLC in sourcing debt and equity funding for construction of the railway project.
Aspire Mining has mining and exploration licences in Mongolia’s northern provinces and is focused on identifying, exploring and developing quality coking coal assets.
This progress comes on the back of the company appointing Neil Wilson, who has had substantial experience in Mongolian coal operations, as project manager.
Ovoot is its flagship project which is projected to initially produce 5 million tonnes per annum of saleable high-quality coking coal.
Based on the Ovoot Development Plan this will be loaded directly onto rail for delivery to markets including China, Russia, Eastern Europe and countries in northern Asia.
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 © 2003-2019 Interactive Omnimedia Pty Ltd.
You can syndicate our news using one of the RSS feeds.