Local Southgobi supplier used micro-loan to increase production capacity
Founded in 2007, local Southgobi hotel company, Inheritance of forever craftsmanship LLC, went into the production of bottled water in 2010.
Local Southgobi supplier used micro-loan to increase production capacity
Founded in 2007, local Southgobi hotel company, Inheritance of forever craftsmanship LLC, went into the production of bottled water in 2010. When they first began production, demand and financial stability were not reliable so the company knew they had to do something to ensure their business continuity.
Micro-loan programme supports the development of local Southgobi suppliers
As soon as Inheritance of forever craftsmanship became an Oyu Tolgoi supplier, they applied and received a micro-loan to grow their production capacity as a part of Oyu Tolgoi’s micro-loan programme. So far 1.5 billion MNT in micro-loans has been disbursed via KHAS and KHAAN bank branches located in four soums local to the Oyu Tolgoi mine site: Khanbogd, Dalanzadgad, Manlai and Bayan-Ovoo. This successful supplier is just one of the local businesses and entrepreneurs that have benefitted from the micro-loan programme.
Loan enabled production expansion and more local jobs
Inheritance of forever craftsmanship were able to use their micro-loan to increase the number of bottles of water produced from 2000/day up to 4000/hour with a significant growth of their work force at the same time. The company began with four people and now employs 11 full time employees.
On the back of this success the company is now looking to the long term development of their business and going into launching a variety of different products.
Ts.Enkhtuvshin, Director at Inheritance of forever craftsmanship said: “It is profitable to produce a greater variety of products locally, so we would like to try making fruit flavoured drinks following the success of our bottled water production.”
“Oyu Tolgoi contributes greatly to the development of small and medium sized businesses in our community. I believe, Oyu Tolgoi will help not only us, but also contribute to all of Mongolia by delivering benefits.”
Inheritance of forever craftsmanship is recognised as Oyu Tolgoi’s supplier of the month
Each month Oyu Tolgoi recognises our best supplier partners who demonstrate excellence in the products and services that they deliver. Inheritance of forever craftsmanship was recognised as the best Southgobi supplier in April 2012.
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