Displaying items by tag: Senj Sant

Mongolia: The Senj Sant cement plant was opened on 13 August 2015 in Urgun Soum, Dornogovi, some 450km from the capital Ulaanbaatar, according to the European Bank for Reconstruction and Development (EBRD). The plant will be the first greenfield cement plant in Mongolia to use the dry process, which is especially significant in the Gobi region, where water is scarce. The plant will also use a waste heat recovery power plant, which will help save energy and water.

The project includes a gender action plan, which means there will be more opportunities for women. Most of the directors of Senj Sant are women. The plant will be overseen by Munkhnasan Narmandakh, the female CEO of its parent holding company, Monpolymet Group, one of Mongolia's leading mining operations. The holding company has an all-female board of directors.

The EBRD provided a financing package of US$85m, which consisted of a US$20m equity investment and a US$65m loan to Senj Sant. The Development Bank of Mongolia lent US$65m. The remaining US$80m of the total project cost of US$230m was funded by the Monpolymet Group.

"This project will be a major step towards establishing domestic cement supply and replacing imports. It is also important for the country's economic diversification," said the EBRD's senior banker in charge of the project, Azjargal Ulziitogtokh. "The EBRD is proud to highlight that the project meets EU requirements and will be using best available technology. Personally, as a Mongolian female professional, I am also very pleased to say that the company has a gender action plan to ensure equal opportunities, which goes beyond industry standards, not only in Mongolia but in the whole region where the EBRD works."

To date, the EBRD has committed over US$1bn to Mongolia's economy. All of the Bank's projects so far have supported private sector companies.

Mongolia: Senj Sant is in the midst of constructing a new dry-process cement plant, which will be the first of its kind in Mongolia. The plant is being built to meet rising demand generated by a rapidly-growing economy. The new Senj Sant plant is strategically located in southern Mongolia about 450km from the capital city, Ulaanbaatar.

A deal with the European Bank for Reconstruction and Development (EBRD) to lend Senj Sant US$65m, following an earlier US$20m equity investment for a stake in Senj Sant that was agreed in May 2013, was signed recently by the EBRD's first vice president Phil Benett.

"This project represents yet another step towards the diversification of Mongolia's economy," said Bennett. Senj Sant, which is owned by Mongolia's Monpolymet Group, is using EBRD finance to continue funding the construction, commissioning and operation of the plant, which is expected to have a total capacity of about 3000t/day of cement with the start of production in 2015.

"The EBRD's long term finance, including equity, is not only helping us to build the first greenfield cement plant in Mongolia using the environmentally-friendly dry-process, but also supporting the company in raising business standards to international levels," said the CEO of Monpolymet Group, Munkhnasan Narmandakh. Mongolia's high levels of mining and infrastructure investment make investment in cement capacity key for future development.

Mongolia: The European Bank for Reconstruction and Development (EBRD) is extending a US$65m loan to Senj Sant to build a cement plant as part of a financing package dating from May 2013, which included a US$20m equity investment. Construction at the 1Mt/yr plant situated in southern Mongolia began in April 2013

"The EBRD's long-term finance, including equity, not only helps us build the first cement plant in Mongolia using the environmentally-friendly dry process, but also supports the company in raising business standards to international levels," said

CEO of Monpolymet Group, Munkhnasan Narmandakh. Senj Sant is a subsidiary of Monpolymet Group.

Mongolia: The European Bank for Reconstruction and Development (EBRD) has signed an agreement to provide a US$20m equity investment to Senj Sant, which will build and operate a 1Mt/yr green-field cement plant in Mongolia. This equity investment is part of a financing package that also includes a loan of up to US$130m. Half of the loan will be syndicated to other lenders.

"This investment marks a milestone in our activities in Mongolia. Not only is the volume of funds we are providing significant but it also signifies an important step in the diversification of the local economy," said EBRD First Vice President Phil Bennett.

Mongolia's economy grew by 17% in 2011. The new Senj Sant plant will be located in southern Mongolia about 450km from the capital Ulaanbaatar in a strategic location to supply cement and clinker to nearby large mining projects. Mongolia's Monpolymet Group owns Senj Sant.