Why Mongolia Is Building a $800M Steel Plant Next to China
4 hours ago
3 min read
Mongolia is preparing to build an $800m steel complex in Darkhan-Uul to reduce its industrial reliance on neighboring China, the world's largest steel producer.
Ulaanbaatar aims to produce essential goods domestically, securing critical supplies for a country without sea access.
The complex is expected to produce 1m tonnes of steel a year, roughly enough to meet Mongolia’s current domestic consumption. Five Chinese companies entered the selection process, with one state-owned and one private company now shortlisted. The government expects to conclude the selection and sign an agreement by October 2026.
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