Minister of Industry and Mineral Resources Damdinnyam Gongor said Mongolia is ready to announce an international open tender as part of its goal to establish a domestic steel plant, Montsame reported.
According to the project’s preliminary feasibility study, a steel production complex is planned with an investment of USD 806 million. Once implemented, the project is expected to produce one million tonnes of steel products annually, including 500,000 tonnes of rebar, 400,000 tonnes of steel billets, and 100,000 tonnes of steel grinding balls. The complex is also projected to process 850,000 tonnes of coking coal per year, produce 600,000 tonnes of metallurgical coke, and generate 60 MW of electricity to meet part of its own power demand.
Members of the working group noted during a preparatory meeting on the construction of the complex that the project would make it possible to meet domestic demand for steel products and support the development of downstream steel-processing industries. The Ministry of Industry and Mineral Resources reported that the meeting reviewed the preliminary feasibility study and approved a plan to select international strategic investors and partners. A government working group tasked with preparing for the selection of investors and contractors for the steel complex was established by a prime ministerial order in 2025.
Presenting the preliminary feasibility study, Gankhuyag G., Manager of the Production, Technology, and Project Development Department at Erdenes UTP LLC, said Mongolia imported about one million tons of steel products last year. He noted that domestic steel demand is projected to reach 1.7 million tonnes by 2030, prompting plans to build a complex with an annual capacity of one million tons. Once operational, the facility is expected to meet 60–70 percent of domestic steel demand and enable local sourcing of products such as rebar, steel grinding balls, and steel billets.

Published Date:2026-02-05