BEIJING, Sept. 4 (Xinhua) -- Xinjiang Bayi Iron & Steel Company of China Baowu Steel Group signed a coking coal purchase agreement with an intentional amount of 750 million U.S. dollars with Mongolia's MoEnCo LLC, a subsidiary of Hong Kong-listed Mongolia Energy Corporation Limited (MEC) at the sixth China-Eurasia Expo.
According to the agreement, China will import 1.5 million metric tons (tonnes) of high-quality coking coal from Mongolia every year in the following five years. The Takeshiken port will thus become a key western transportation channel along the China-Mongolia-Russia economic corridor.
The Takeshiken port is 510 kilometers away from Urumqi, northwest China's Xinjiang Uygur Autonomous Region. It is the second largest port opened by China to Mongolia. (Edited by Hu Pingchao, hupingchao@xinhua.org)
A single purchase
