The project, located at Sainshand Soum in the Dornogobi Province, is set be Mongolia’s third and largest wind park, as well as the second featuring Vestas turbines. Specifically, Sainshand will feature 25 V110-2.0 MW turbines in 2.2 MW power-optimized mode. Long-term financing is being provided by the European Investment Bank and the European Bank for Reconstruction and Development.

“Mongolia has begun the journey away from an energy mix dominated by thermal power, and with its strong wind resources, the market is growing fast and becoming very competitive,” states Clive Turton, president of Vestas Asia Pacific.

The order also includes supply and supervision of turbine installation, a 15-year Active Output Management 4000 service contract and VestasOnline Business SCADA. Turbine delivery, as well as commissioning, is expected for the first half of 2018.

”Mongolia is facing an energy challenge due to increasing demand from industrialization and urbanization,” adds Benoit Ribesse, CEO of ENGIE Mongolia. “As our first renewable energy project in Mongolia, ENGIE’s investment in the Sainshand wind farm is consistent with our vision of leading the global energy transition, and the drive for decarbonization will significantly contribute to powering the country’s energy needs. We look forward to partnering with Vestas to support the Mongolian community – environmentally, socially and economically.”

The first train carrying 82 TEU was dispatched from province Fujian to station Kupavna of the Moscow Railway on August 25th. Time in transit shall be 14 days. The route of this service runs via border stations Erlian/Zamyn-Uud/Naushki. With increase of the rhythm of traffic it is expected to use FESCO Mongolian Shuttle to make two regular dispatches per month, in the future – on a weekly basis.

The cargo base for the service is formed by export goods from province Fujian and by products that are produced in and are arriving from other regions to Shanghai, Ningbo, Guangzhou. These are primarily consumer goods, products of the textile industry, shoes.

FESCO launched its first continental service from China to Russia in late 2016 on route Tianjin-Moscow, a transit service from China to Germany passing through the territory of Mongolia as well started to operate in early August 2017.

According to the governor, there are more than 60 energy companies working in Yamal, including Gazprom, Rosneft, Lukoil, NOVATEK, Gazprom Neft, Transneft, France’s Total, China’s CNPC and others.

There are 236 oil and gas fields in Yamal, and the region boasts proven hydrocarbon reserves of 44.5 trillion cubic meters of gas and almost 5 billion tons of oil.

Russia expects to open the first phase of the Yamal liquified natural gas (LNG) project in December. The plant will produce 16.5 million tons of LNG per year. The project is a joint-venture between Russia’s NOVATEK (50.1 percent), Total (20 percent), CNPC (20 percent) and the Silk Road Fund (9.9 percent). 96 percent of the plant’s future capacity has already been contracted, Kobylkin noted.

When Yamal LNG and Arctic LNG 2 on the Gydan Peninsula are fully operational, LNG production in the region will be 80 million tons per year, the governor said.

The region also has natural gas pipelines, crucial for Nord Stream, the pipeline that delivers Russian gas to Germany and Europe.

Yamal will also become a major hub for the Russian Northern Sea Route, which allows passage from the Atlantic to the Pacific Ocean via the shortest route along the Russian part of the Arctic Circle. It reduces the transport time from China to Europe by at least 12 days compared to the traditional Suez Canal route.

The 2017 trilateral meeting addressed issues of shared concern. The three countries expressed their grave concern over the regional and global threat posed by North Korea’s continued development of nuclear and ballistic missile technology, especially in light of the August 29 ballistic missile launch over Japan. Noting the threat that such provocations pose to regional stability, they called on Pyongyang to immediately cease its destabilizing actions and to fully comply with its international obligations and commitments under all relevant United Nations Security Council Resolutions (UNSCRs) and its commitment under the 2005 Joint Statement of the Six-Party Talks in order to achieve a peaceful resolution to rising international tensions and the shared goal of a denuclearized Korean Peninsula. The three countries called on all UN member states to fully implement all UNSCRs, especially the newer provisions of UNSCR 2371. The three countries emphasized the importance of an immediate resolution of abductions.

The three countries also reinforced the importance of international law and standards as the foundation of peaceful, productive relations between countries. Moreover, they pledged to promote increased trilateral cooperation at the United Nations and other international organizations. The participants also affirmed their shared intent to promote trilateral and multilateral security and defense cooperation. Japan and the United States expressed their great appreciation for Mongolia’s contributions to UN peacekeeping operations and continued stability operations in conflict zones worldwide.

Mutually beneficial economic development remains a key theme in the trilateral relationship. The three countries discussed opportunities to increase trade and make Mongolia’s business and investment climate increasingly attractive to Japanese and U.S. firms, particularly through improved transparency and predictability. In order to enhance foreign investors’ trust and reinvigorate the Mongolian economy, Japan and the United States expressed their hope Mongolia would fully implement its arrangement with the IMF. Japan and the United States noted Mongolia’s natural competitive advantage in the agricultural sector and welcomed exploring opportunities to work with Mongolia to achieve its renewable energy goals.

The participants underscored the importance of the Mongolia-U.S.-Japan trilateral meeting, launched in 2015, as a foundational mechanism allowing Mongolia and two of its “third neighbors”--Japan and the United States--to exchange views on regional and multilateral cooperation and economic integration.

The 2017 trilateral meeting addressed issues of shared concern. The three countries expressed their grave concern over the regional and global threat posed by North Korea’s continued development of nuclear and ballistic missile technology, especially in light of the August 29 ballistic missile launch over Japan. Noting the threat that such provocations pose to regional stability, they called on Pyongyang to immediately cease its destabilizing actions and to fully comply with its international obligations and commitments under all relevant United Nations Security Council Resolutions (UNSCRs) and its commitment under the 2005 Joint Statement of the Six-Party Talks in order to achieve a peaceful resolution to rising international tensions and the shared goal of a denuclearized Korean Peninsula. The three countries called on all UN member states to fully implement all UNSCRs, especially the newer provisions of UNSCR 2371. The three countries emphasized the importance of an immediate resolution of abductions.

The three countries also reinforced the importance of international law and standards as the foundation of peaceful, productive relations between countries. Moreover, they pledged to promote increased trilateral cooperation at the United Nations and other international organizations. The participants also affirmed their shared intent to promote trilateral and multilateral security and defense cooperation. Japan and the United States expressed their great appreciation for Mongolia’s contributions to UN peacekeeping operations and continued stability operations in conflict zones worldwide.

Mutually beneficial economic development remains a key theme in the trilateral relationship. The three countries discussed opportunities to increase trade and make Mongolia’s business and investment climate increasingly attractive to Japanese and U.S. firms, particularly through improved transparency and predictability. In order to enhance foreign investors’ trust and reinvigorate the Mongolian economy, Japan and the United States expressed their hope Mongolia would fully implement its arrangement with the IMF. Japan and the United States noted Mongolia’s natural competitive advantage in the agricultural sector and welcomed exploring opportunities to work with Mongolia to achieve its renewable energy goals.

1 - week CBBs
1-week CBB plays an important role in managing the reserves of banks and is the core monetary policy instrument of the Bank of Mongolia. The interest rate on CBB will be the policy rate of the BOM and will serve as a guide interest rate on the interbank market. It was first introduced in July 2007, with fixed rate and unlimited bidding, and traded on a regular basis every Wednesday at the interbank market. This had attracted the banks’ interests providing the possibility for the banks to place their excess reserve in short term asset. Since the introduction of this instrument, there has been a substantial change in the way banks manage their reserves. For the favorable adjustment of CBB rate and loan principle along with the well balance of togrog and foreign exchange, 1 - week CBB auction has been held in the form of competitive interest rate since May 2010. In doing so, the upper and lower limits of the bank bids are to set +/- 2 per cent of the policy rate.

The internet giant wants to build housing, retail stores, a hotel and more at its corporate headquarters — in short, Facebook wants to build its own town.

Facebook unveiled plans on Thursday for the massive new construction project at its Menlo Park, California corporate campus, which is part of Facebook's plans to expand its home base. The 56-acre site, which Facebook bought in 2015 for about $400 million, is located directly across the street from Facebook's headquarters. It will offer 1.6 million square feet of housing, or 1,500 units.

In a blog post announcing the plans, Facebook described the future development as a "mixed-use village" that will provide residents, many of which will be Facebook employees, with housing, transportation services and other amenities.

"We plan to build 125,000 square feet of new retail space, including a grocery store, pharmacy and additional community-facing retail," Facebook said.

The new development will also include a hotel, according to the Silicon Valley Business Journal.

It will take roughly a decade to build, according to a person familiar with the plans. The initial phase of the project, which will include the housing and grocery store, will be wrapped up in the first half of 2021. The subsequent phases will be completed every two years, according to a blog post on Facebook's website.

While most of the housing will likely go to Facebook employees, Facebook is opening up the housing to the community at large. The housing will be a mix of market rate and affordable housing units, with 225 units, or 15%, priced below market rate.

"Part of our vision is to create a neighborhood center that provides long-needed community services," Facebook wrote.

One benefit of having employees live so close to campus is a reduction in the amount of traffic in the area, according to the blog post.

While Facebook has presented the plans to the City of Menlo Park, they have not yet been approved. The company expects the approval process to take about two years.

According to the ordinance issued by the parliament's speaker Miyegombyn Enkhbold, the session of the State Great Khural (Mongolia's parliament) scheduled for Aug. 30 to Sept. 7 will discuss the dismissal of Erdenebat Jargaltulga, the incumbent prime minister. 

Last week, 30 members from the ruling Mongolian People's Party (MPP) in parliament supported the petition to remove Jargaltulga from office. 

Jargaltulga violated national law on key economic issues related to concession deals, allowances for Mongolian children and stock shares in a mining company, among others, said Parliament member Ayursaikhan Tomorbaatar. 

"We observed that his actions and decisions were only to serve the interests of several groups, but not for the interests of the ordinary people of Mongolia," Tomorbaatar said. 

According to Mongolia laws, the petition demanding the dismissal of Jargaltulga must be discussed and resolved within 15 days. 

Erdenebat, 44, of the MPP, took office in July 2016.