Sam Energy Signs MoU with Shiveekhuren Railway LLC

March 28, 2023 – After multiple rounds of consultations and in-depth discussions, Sam Energy Limited ("Sam Energy") and Mongolia’s Shiveekhuren Railway LLC ("Shiveekhuren Railway") reached consensus on the China-Mongolia border port railway construction project. The parties signed a Memorandum of Cooperation (MoU) at the headquarters of China Sam Enterprise Group Limited ("China Sam"). The signing ceremony was witnessed by the Assistant to the Chairman of China Sam, Deputy General Manager of Sam Energy, General Manager of Monjul Trading Company, and General Manager of Narinsukhat Railway Company, with the General Manager of Sam Energy and the Chairman of Shiveekhuren Railway signing on behalf of their respective entities.

The Ministries of Foreign Affairs of China and Mongolia established a common memorandum on railway border crossing points in 2016, followed by a formal agreement in 2022, providing policy support for this project. Leveraging Sam Energy’s coal supply chain resources, railway freight logistics capabilities, and extensive rail-road intermodal transportation experience, combined with Shiveekhuren Railway’s access to premium coal resources in Mongolia, both parties agreed to establish a joint venture to advance railway construction and enhance bilateral cooperation.

This MoU signing will facilitate the integration of complementary resources to jointly promote the construction of cross-border dedicated railway lines and supporting infrastructure. The collaboration aims to increase coal clearance efficiency at border ports, achieving a win-win outcome in social and economic benefits for both nations.