Oslo, Wednesday, February 3, 2010
Stock Exchange Notification
Blom awarded NOK 20 million contract in Mongolia
Blom has been awarded a consultancy services contract in Mongolia by the Millennium Challenge Account – Mongolia (MCA-M), as part of the Property Rights Project. The contract has a total value of NOK 20 million and the project will be completed during a 3-year period. The project is funded by Millennium Challenge Corporation (USA).
The objective of the consultancy service is to implement activities in order to make registration processes more efficient for the public and private sectors in Mongolia. Specifically, Blom will provide full business analysis and recommendations on improving registration information technology systems, processes and procedures; develop management tools and guidance documents; digitize registry data; develop interconnection of 13 separate offices; incorporate property registry processes and information into IT systems; establish data flow connections between property rights data and the National Land Information System; and cooperate with architectural design firm, monitoring and evaluation contractor and IT and equipment provider.
For further information please contact:
Håkon Jacobsen, COO Blom ASA
Tel: +47 22 13 19 20
About Millennium Challenge Account – Mongolia
The Millennium Challenge Corporation (MCC) and the Government of Mongolia have entered a compact for Millennium Challenge Account assistance to help facilitate poverty reduction through economic growth in Mongolia. The Compact Program is a US Government grant. The Program is expected to have a significant direct impact on individuals living in poverty, and significant indirect and ancillary benefits by creating new economic opportunities and increasing the capacity of individuals and groups to participate fully in and benefit from economic growth.
About the Property Rights Project
The inability of Mongolians to easily register and obtain clear titles to their land poses a serious obstacle to the Government of Mongolia’s promotion of real property ownership. The Property Rights Project will help Mongolian citizens obtain secure, long-term rights to the suburban and peri-urban land (small plots of land located in the crowded suburban areas) they occupy, and promote investments in home improvement, business activities and agricultural productivity. The Property Rights Project will improve the accuracy, accessibility and efficiency of the formal system for recognizing and transferring land rights and will facilitate issuance of privatized and registered land titles to suburban landholders.