Russian Company Owns Mongolia's Major Power Plant

The Russian company MAAT has become the owner of one of the largest heat and electricity facilities in Mongolia.

The company has won in a tender for privatization of the Baganur plant, built with the technical and economic assistance of the former USSR in the early 80s, said the Mongolian State Property Committee on Thursday. The plant was built to supply electricity and heat for the largest open coal pit Baganur and the nearby miners' settlement.

The MAAT proposed a full block of shares of 2,300 million tughrik /over 2 million dollars/.

Russians pledge to carry out full updating and technical re-equipment of the heat and power plant, create new jobs and invest 369 million tughrik within the next two years.