On April 10, Executive Director of “Khutul Cement & Lime” JSC L.Naranbaatar held a press conference
and gave latest information about the company. Khutul Cement & Lime is a strategically important factory that supplies technological lime to the copper concentrate of “Erdenet Industry” SOE. In the past year the company has been under the management of L.Naranbaatar and he has presented the company’s performance since he took over the management.
He stated that, in 2022, 403,393 tons of cement was produced which is much more than the same period previous year and lime production also increased from the previous year’s production.
In 2022, Khutul Cement & Lime spent 85.5 billion MNT in expenses while they had a profit of 100 billion MNT. After the transition to state ownership in 2022, the net profit became 11.6 billion MNT, which is the first time the company made a profit in the last decade.
The total wage fund for employees has been doubled from 10.8 billion MNT to 20.6 billion MNT in 2022, and thus the average salary has increased from 1.2 million MNT to 2.1 million MNT. When it was privately owned, in 2021, only 600 million MNT was invested in the company, and in 2022, with its own investment, a total of 7.9 billion MNT was made to upgrade the equipment. This was the first investment made in the last five years. For example, the average cost of limestone, which is the first stage of production, has been reduced by modernizing mining techniques and investing in heavy-duty vehicles, bulldozers, and loaders.
However, there have been allegations about the company’s illegal spending of the budget, which made the workers angry.
A after the director’ statement to the public, on April 11, the workers of Khutul Cement & Lime JSC started a protest outside the State Property Policy and Regulation Department. They made demands to Head of the State Property Policy and Regulation Department B.Tsengel saying, “Give cost- based incentives. Appoint the factory director from within. Hold L.Naranbaatar accountable according to the audit findings. Immediately convene the board of directors.”
