Construction of the new Ulaanbaatar International Airport 52 km south of the capital is nearing completion. It is considered that the airport is 98.9 percent complete. The first flight is scheduled for this November. 

Initial planning for Mongolia’s new airport was budgeted at USD 247 million in 2006 with Japanese assistance. Now, twelve years on, the cost of construction has reached USD 650 million.

Former Prime Minister Ch.Saikhanbileg signed an agreement with Japan for the airport to be jointly owned on a Mongolia-51 percent and Japan-49 percent basis. The agreement will last for 30 years.