With a goal to increase the trade and coal export to China, People’s Republic of China and Mongolia jointly established a company Gashuun Sukhait Railway Company and the official signing ceremony was held yesterday. 51% of the company will be owned by Erdenes Tavan Tolgoi JSC, Energy Resource LLC, and Tavan Tolgoi JSC. The other portion of the company will be owned by state-owned Shenhua Group. Executive Director of ETT JSC stated that although the distance of the railway project is short, the value is very high, and both sides are keen to implement the project in a timely manner. The railway will go through Gants Mod port of People’s Republic of China and Gashuun Sukhait port on Mongolian side.