On the 11th January, the Ministry of Industry introduced the two large industrial programs.
The first is called the “Target Program to Develop Ferrous Metallurgy”; the second, is a “Program to Restimulate the Manufacture of the Metal Hardware, Equiment and Machinery”. A total of 60 representatives from the industrial federations, private entreprises and non governmental organizations attended the presentation.
Over the last five years, Mongolia has paid USD 13.6 billion to import machinery and equipment. This figure represents 50%-60% of all imports. The, “Target Program to Develop Ferrous Metallurgy”, proposes to provide 30% of manufacture from local companies by the year 2020.
The “Program to Restimulate the Manufacture of the Metal Hardware, Equiment and Machinery” proposes to ban the export of the iron-ore and concentrates by 2025. Related to this, it proposes constructing a plant with the capacity to manufacture 100,000 tons of cast-iron by 2018.