KHOT INFRASTRUCTURE HOLDINGS, LTD. ("KHOT" or the "Company") announced today that its Mongolian Subsidiary, Ashid Munkiin Zam LLC, ("AMZ"), applied for and has been granted by the Mongolian Government an expanded road building permit, valid until July 2018, with new authorizations to participate in bridge construction and regular road maintenance works, in addition to the previous construction and repair authorizations.
In October, AMZ also applied for a rail bed construction permit, necessary to compete for new rail bed construction opportunities that are currently under bid process as well as other contemplated rail projects.
"These new and expanded permits increase our team's ability to compete for the construction opportunities as the Mongolian government pursues its aggressive regional road construction mandate. There are a number of key concessions that are open to the properly permitted companies as Mongolia moves to meet its commitments under the recently announced trilateral agreement between Russia, Mongolia and China," said James Passin, Chair of Khot Infrastructure.
Khot, through AMZ, is committed to participate in the full range of infrastructure construction concessions and the Company is in active negotiations with several major parties, including Chinese state owned enterprises, who can contribute all the required logistical and financial support elements required of a strategic partner for large road construction projects.
Coordinating efforts with China's larger integrated Silk Road program, Mongolia will participate in the international Economic Corridor linking resources and markets between Russia, China and Mongolia, as well as other Central Asian countries.
James Passin noted, "New infrastructure in Mongolia is a regional necessity and will remain so for the foreseeable future. The opportunity for the Khot Group is enormous." Mr. Passin will be presenting at the Mongolia Projects and Investments Summit in Hong Kong on November 16th and 17th and will be meeting Khot and AMZ partners to further the bidding mandate.
Our goal is to become the leading Mongolian transportation contractor and the preferred choice for employees, shareholders and partners. Our focus is on high margin contracts, such as highways and regional roads. Our mission is to provide the infrastructure needed for one of the world's fastest growing economies.
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