Khot Infrastructure Announces Issuance of Rail Construction Permit

Khot Infrastructure Holdings Ltd. (CNSX:KOT) announced that the Company’s wholly owned subsidiary, Ashid Munkhiin Zam LLC has been awarded a rail bed construction permit by the Ministry of Road and Transportation of Mongolia.
As quoted in the press release:

This rail bed construction permit issued effective December 22, 2015 is for an initial period of three (3) years and enables AMZ to bid on a number of major rail projects planned by the Government of Mongolia as an integral component of its countrywide transportation infrastructure commitment, including the USD$1.3 billion, 547 kilometres in railway concessions already announced by the Mongolian Government in partnership with Northern Railway.
Proceeds from the private placement announced on December 15, 2015 will be used to accelerate the bid process in both the road and rail bed sectors. The Company will provide more ongoing information to shareholders as the bid process continues.

Khot Infrastructure Holdings Chairman, James Passin, stated:

The combination of road and rail provides a natural synergy to AMZ operations. Our experienced in-country management team and potential strategic partners are unanimous in their enthusiasm for this long term railway construction program. Having been awarded a permit allows Khot to actively bid on these fast-moving opportunities.