Introducing Mongolian Coal to Enhance the Industrial Chain! CPID Imports Coal for New Opportunities

On September 20, 2022, the representatives of CPID, Qinhuangdao Lijing Trading Co., Ltd. (Lijing) and Erdenes Tavan Tolgoi JSC (ETT) met virtually and signed a Memorandum of Understanding (MoU) in Beijing, Qinhuangdao and Ulaanbaatar, respectively, to promote Mongolia's coal export trade and logistics business. The MoU marks a new breakthrough for CPID to expand imported coal sources and the list of countries for logistics business. China-Mongolia industrial cooperation can enhance the resilience of the international industry chain and help the Belt and Road initiative to achieve new development.

Mr. He Xi, Chairman of CPID and Chief Engineer (New Energy) of SPIC, Mr. Yang Jun, Chairman of Lijing, and Mr. Gankhuyag Battulga, CEO of ETT, attended the signing ceremony and delivered speeches.

Mr. He said that the signing event was in line with the important consensus reached by the leaders of China and Mongolia on continuously promoting cooperation between China and Mongolia and boosting the Belt and Road initiative. Mr. He also said that CPID had attached great importance to the signing event, and would take this opportunity to strengthen cooperation and communication with all sectors of Mongolian society, help Mongolia's coal export and the development of China's coal market, give full play to CPID's advantages in international projects and new energy, promote the co-development of new energy projects such as wind power, PV power, energy storage and green electric transportation projects, and promote the industrial cooperation between the two sides to the next level. Mr. He expressed that both sides would uphold the concept of friendly and win-win cooperation to build a model of energy industry cooperation in China-Mongolia Economic Corridor and strive for a bright future.

Mr. Gankhuyag Battulga said that ETT, as one of the large coal enterprises in Mongolia, had not only good cooperation with Chinese enterprises in coal production and sales but also deep cooperation in the construction of railroad and highway facilities and environmentally-friendly transportation and new energy in Mongolia, and ETT had attached great importance to this signing event and hoped to take this opportunity to expand the cooperation with CPID in coal trade, logistics and transportation, open new trade ports, and build a good start together.

According to the MoU, ETT will sign a contract for coal supply and make related logistics arrangements with China Power Guorui, to form a long-term and stable international supply channel of high-quality steam coal and support the high-quality development of CPID's coal-based power business.

Mr. Xu Ji, Chief Accountant of CPID, the leaders of China Power Guorui, and the leaders of ETT and Lijing attended the activity.