The State Property Committee (SPC) and the New Asia Mining Group yesterday signed an agreement under the concession law granting the company build-use-transfer rights over a power plant in the Mogoin Gol mine area. This is the first such agreement under the law.

The group will construct the power plant within two years, and take the revenue for 20 years before turning it over to the state. It will not get any financial help and subsidy and will hand over the plant without any financial liability.

The plant will be built in Telmen soum of Zavkhan aimag and would generate 300 working places when operational. It will supply energy to Zavkhan and Gobi-Altai aimags. It now costs the state MNT13 billion a year to provide electricity there. The mine will also sell more coal to meet the plant’s needs.