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Why China suddenly halts financing of hydroelectric station construction in Mongolia

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Why China suddenly halts financing of hydroelectric station construction in Mongolia

China has abruptly and unexpectedly suspended the process of allocation of $1 bln within the framework of financing of the works at the construction site of a hydroelectric power station located by the side of the Suren River in Mongolia.


The move was caused by Russia’s fear that operation of this hydroelectric power station might negatively affect Lake Baikal, Bloomberg reports on Monday.

Now, if Mongols will get on with the construction despite Moscow disapproval, they will have to seek for funding in Japan, South Korea and Norway.

As a reminder, the issue concerns the construction of the hydroelectric power station by the side stream of the Selenga River, one of the two largest ones feeding Lake Baikal. Russia is unsuccessfully struggling to get an information on the project, but Mongolia provides nothing but a draft technical specification.

Why China suddenly halts financing of hydroelectric station construction in Mongolia

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