Sam Energy Collaborates with Xilingol League and East Ujimqin Banner Government on China-Mongolia Energy Project Cooperation

Xinhua News Agency App｜Recently, Sam Energy Limited ("Sam Energy"), a subsidiary of China Sam Enterprise Group Limited ("China Sam"), was invited to participate in the 2022 Autumn/Winter Xilingol "Cloud" Investment Conference.

This investment conference was hosted by the Xilingol League government to promote local industrial development advantages and investment projects to participating enterprises and business associations. A total of 25 industrial investment agreements were signed, with a total investment of approximately RMB 10.2 billion. During the conference, China Sam and the East Ujimqin Banner government signed an agreement for the China-Mongolia cross-border railway connection line and supporting infrastructure construction at Zhuengadabuqi Port.

The total investment for the Zhuengadabuqi Port project amounts to approximately RMB 200 million. Both parties plan to establish a joint venture for comprehensive cooperation in cross-border railway connection line construction, customs-supervised warehouse construction and operation, coal transportation industry investment, and supply chain financial services, further enhancing the comprehensive capabilities of Zhuengadabuqi Port.

It is understood that this project signing constitutes a concrete practice of deepened government-enterprise cooperation between China Sam and the East Ujimqin Banner government for mutual development. The Group will construct energy and mineral infrastructure at Zhuengadabuqi Port, develop China-Mongolia energy and mineral cooperation, drive cross-border economic growth in East Ujimqin Banner, and advance China-Mongolia economic and trade cooperation to deeper levels and broader fields.

From: Xinhua News Agency App
News source: Economic Information Daily