Sam Energy Advances China-Mongolia Cross-Border Dedicated Railway Line Construction to New Phase

On May 23, 2023, Sam Energy Limited ("Sam Energy") and Mongolia’s Narinsukhat Railway Co., Ltd. ("Narinsukhat Railway") formally signed a contract at the Beijing headquarters for the China-Mongolia border port dedicated railway line project. This marks the commencement of the Ceke Port to Narinsukhat section of Sam Energy’s cross-border dedicated railway line. The signing ceremony was witnessed by Wu Lin and Guan Mengyuan, Assistants to the Chairman of China Sam Enterprise Group Limited, Fu Jia and Hu Yajie, Deputy General Managers of Sam Energy, Chimba, Chairman of Osk LLC, Chingun, General Manager of Monjul Trading Company, Ugankhuu and Erdene, relevant officials from Mongolia Railway State-Owned Company.

Narinsukhat Railway is a platform entity jointly established by a major Mongolian coal company and Mongolia Railway State-Owned Company for the Ceke-Narinsukhat Railway Project. It possesses extensive resource reserves and operational expertise in Mongolia, responsible for policy guidance and coal supply within Mongolia. Sam Energy, leveraging robust policy support, market operations, and resource coordination capabilities, will oversee the construction of this dedicated cross-border railway line and coal logistics parks at both countries’ ports. A groundbreaking ceremony will be held at the Narinsukhat Railway site in Mongolia on May 27.

This contract signing represents a significant milestone in Sam Energy’s cooperation with Mongolian enterprises. It will further open the China-Mongolia energy corridor, propel cross-border energy trade development, and contribute to safeguarding national strategic energy security.