"ERDENES-TAVANTOLGOI" JSC PRESENTED ITS "A6-20" BUSINESS PLAN 2021-2025 TO THE BOARD OF DIRECTORS
“Erdenes-Tavantolgoi” JSC submitted its “A6-20” business plan to be implemented between year 2021-2025 to the board of directors today / December 9, 2020 /.
According to the plan, the company has successfully completed six projects between 2016 and 2020, and plans to implement 20 major projects between 2021 and 2025.
At the beginning of the meeting Mr.Gankhuyag B, CEO of the company introduced the successfully implemented 6 activities included in the “A6-20” development program within the framework of the strategic plan and emphasized the following activities. Specifically:
1. Company has become debt-free, loss-free and profitable
2. Consolidated mineral reserves and the company was evaluated
3. Focused on workers' social issues and mine development
4. Infrastructure projects started
5. Initiated major social responsibility projects
6. 1072 shares were revived
Company planned to finance major construction projects until 2025. These include the Tavan Tolgoi-Zuunbayan, Tavan Tolgoi-Gashuunsukhait railway, the Coal Shipping Center, Khangi Mandal, the Gashuunsukhait road, the Tavan Tolgoi power plant, the coal chemical plant, the steel plant, and the coke plant. He also said that the social protection policy of the workers will be improved and the construction of Erdenes city with a capacity of 51,000 people will be started. In addition, we are planning to work on providing an opportunity to trade and inherit 1,072 shares, emphasizing stock valuation and establish a group-wide asset management system for the company.
The company's “A6-20” business plan and related documents were handed over to the Chairman of the Board Bat-Erdene B. He also introduced the company's 2021 action plan and draft budget, emphasizing that 95 percent of the total budget will be spent on construction and projects, and the rest will be spent on its own operating costs.
