Progress has been made with Ulaanbaatar’s Thermal Power Plant No 5 (also known as CHP-5). The project to build a large station near the Mongolian capital has been going on for several years. Now, the “National Operator Authority LLC” and “National Power Transmission Grid” (NPTG), acting on behalf of the Government of Mongolia (GoM), have signed a Concession Agreement with the companies “ENGIE” (GDF Suez owns 30%), “Sojitz Corporation” (30%), “POSCO Energy” (30%), and “Newcom” (10%). According to this contract, the new coal-fired Power Plant 5 will have the dual ability to produce 450 megawatts (MW) of electricity and also generate heat for the capital. Power Plant 5 will have three ovens a boiling section. It will use combustion technology and control SO₂ and NO_X emissions into the atmosphere. Also, by installing air-cooled condensate equipment water usage will be minimized. During the construction period, 2700 job positions will be created. Power Plant 5 is significant as a first partnership between the Government and Private sectors.