
The working group that is in charge of the project and coordinator companies signed the 49.4 billion agreement for the new international airport in the Ministry of Roads and Transportation on Friday May 10th.
The new international airport to be built in Sergelen sum in Tuv aimag is expected to be a complex of over 30 separate constructions with all infrastructure services, such as heating, water, sewage, and passenger amenities with the latest and environmentally friendly technologies. The new international airport will be built for a full capacity of 24 hours service in spite of any weather conditions for 3 million passengers a year.
There are also plans to build an expansion with the ability to hold 12 thousand airplanes and 12 million more passengers and extra lanes. The plans include a new town with a population of 100,000 near the new international airport.
The Japan International Cooperation Agency (JICA) issued a 40 year term lower interest loan for the project. The loans are termed with no interest in the first decade and 0.2 percent interest for the next 30 years.
Mongolia will be responsible for infrastructure; installing electricity lines, optic fiber and roads.
The project coordinator Mistubishi-Chiyoda has promised to bring the airport to operation by December 2016.