Mongolia and China announced the launch of the “Steppe Road” project during Chinese President Xi Jinping's state visit to Mongolia last week.

The foundation of the “Steppe Road” project will be laid in September. This will be the start of a massive project to build a highway that connects Altanbulag-Zamiin Uud.

Chinggis Land Development Group-New Development Road  partnership was selected for project coordination of  the 1,000 km highway construction project to be complete in two to three years. Mongolia joined the Asian Highway Network, signing the Intergovernmental Agreement on the Asian Highway Network with members of the United Nations Economic and Social Commission for Asia and the Pacific, on April 26, 2004.

 The Asian Highway Network, or the Great Asian Highway, is a 141,000 km network of roads running across 32 countries. Mongolia will be responsible for building roads on  AH3, AH32 and AH4 within its territory.

The previous Government of Mongolia and State Property Committee announced an open tender for the Altanbulag-Zamiin Uud highway project on AH3 of the Asian Highway Network in 2011. Chinggis Land Development Group-New Development Road  was selected from a number of national and foreign companies and banking financial institutions.

As the project coordinator, Chinggis Land Development Group signed a concession contract on the highway's construction. This means the group will be the owner of the highway from 2015 to 2040. The project coordinator will transfer the road's ownership to the State in 2040 according to the concession contract.