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2019 profits of some state owned companies soared to record high www.montsame.mn
Ulaanbaatar /MONTSAME/. In 2019, profits of some large state-owned enterprises reached an all-time high as follows:
- Erdenet Mining Corporation (EMC) paid MNT 936 billion to state budgets, hitting record high in its history of four decades. The company also saved MNT 54 billion from its tendering and procurement activities. In 2016, EMC paid MNT 184 billion to the state budget. On March 21, 2019, the EMC was transferred to the full ownership of the Mongolian Government.
- Sales revenue of Erdenes Tavan Tolgoi JSC reached USD 1 billion or MNT 2.7 trillion in 2019, making the highest revenue in Mongolia last year. The company has completed repayment of a total of USD 680 million of debts due to Aluminum Corporation of China Limited CHALCO and other companies since 2010. Only in 2018, the Erdenes Tavan Tolgoi JSC generated MNT 720 billion to the state budget.
- National flag carrier Mongolian Airlines MIAT conducted the most number of flights to various international destinations. It performed 2590 flights with 18200 total hours in 12 international and one domestic routes. The total passengers of MIAT for 2019 reached 785 thousand. Total revenue of MIAT reached MNT 484.3 billion and its profits amounted to MNT 30.8 billion.
Published Date:2020-01-06
