Source: Enhanced Online News                       Date: 16 September, 2010

CADEX KK of Tokyo and State-owned Mongolian Railway have announced the formation of a wide-ranging business consulting alliance with aim of enhancing the railway infrastructure in Mongolia. Under their agreement, CADEX and its Mongolian subsidiary CADEX LLC Mongolia (Ulaanbaatar) will act as a business consultant of Mongolian Railway, specifically as manager of projects to acquire railway technology and personnel (through hiring and education/training) with the goal of contributing to the stable management and long-term growth of Mongolian Railway.

Under the alliance agreement, CADEX will apply its railway consulting and project management experience in China, as well as its human resources network, achievements and know-how throughout the Asian region, to build cooperative relationships with third parties outside Mongolia with the objective of rapidly achieving a stable freight transportation system, new business opportunities and the efficient development of underground resources.

Mongolian Railway was established in 2008 by the Government of Mongolia to equip and maintain the country's railway infrastructure, and to proactively promote the development of resources and supply these resources to international markets. Specifically, the company is working to rationalize Mongolia's logistics system, establish a safe and secure railway management system, and establish and maintain stable quality assurance systems, thereby modernizing Mongolia's railway system, raising the presence of Mongolia in the international resources market and contributing to the development of Mongolia's economy. The company is wholly owned by the Government of Mongolia.