Senj Sant cement plant opens in Mongolia

A newly-opened greenfield cement plant is set to boost Mongolia’s domestic supply of building materials at a time when the country is looking to stimulate new investment and construction.

The Senj Sant cement plant was opened on 13 August 2015 in Urgun Soum, Dornogovi province, 450km from the capital Ulaanbaatar. It is the first dry-process plant to be installed in Mongolia, a factor which is of particular significance given the scarcity of water in the Gobi region, the EBRD notes. 

Another distinguishing feature of the project is that it has a 'gender action plan', meaning there will be more opportunities for women. Most of the directors of Senj Sant are women. The plant will be overseen by Munkhnasan Narmandakh, the female CEO of its parent holding company, Monpolymet Group, one of Mongolia’s leading mining operations. The holding company has an all-female board of directors.

The EBRD provided a financing package of US$85m, which consisted of a US$20m equity investment and a US$65m loan to Senj Sant. The Development Bank of Mongolia lent US$65m. The remaining US$80m of the total project cost of US$230m was funded by the Monpolymet Group.

The EBRD’s senior banker in charge of the project, Azjargal Ulziitogtokh, attended the opening ceremony on behalf of the Bank and said: “This project will be a major step towards establishing domestic cement supply and substituting for imports. It is also important for the country’s economic diversification.”

“The EBRD is proud to highlight that the project meets EU requirements and will be using best available technology. Personally, as a Mongolian female professional, I am also very pleased to say that the company has a gender action plan to ensure equal opportunities, which goes beyond industry standards, not only in Mongolia but in the whole region where the EBRD works.”