Used Rails

This S.O. is valid for six (6) international banking days

May the 22th , 2008

from receiving shipping documents, up to cover the total amount of USD 533,500,000 (five hundred thirty three million five hundred thousand United States Dollars) +/-5% (plus minus five percent) of the 11 (eleven) Contracts months value, valid for 11 (eleven) Months + 30 (thirty) days in the favour of the Seller.

Stand By Letter Of Credit (SBLC), issued by a Top Bank, covering the value of 1 (one) month delivery, Irrevocable, Transferable for the whole Contract period, corresponding to USD 48,500,000 +/- 5% (forty eight million five hundred thousand United States Dollars plus or minus five percent). The SBLC valid for the length of the Contract plus one month as a Guarantee for the Seller to perform the Contract and will be negotiated during the last Contracts month. Monthly delivered goods must be paid via Irrevocable, Transferable Auto-Revolving 11 (eleven) times, Letter of Credit (ARLC) issued by Top Bank in the amount of USD 48,500,000 +/- 5% (forty eight million five hundred thousand United States Dollars plus or minus five percent)., payable 100% at sight against shipment documents at the Sellers Bank no later than 5 (five) banking days

PAYMENT

The whole quantity of 1,200,000 MT (one million two hundred thousand Metric Tons) +/- 5% (more or less five percent) will be delivered by 100,000 MT (one hundred thousand Metric Tons) +/- 5% (more or less five percent) per month, with shipments of 25,000 MT (twenty five thousand Metric Tons) +/- 5% (more or less five percent), in 12 (twelve) consecutive months. Shipments of 12,500MT not allowed.

PRODUCT DELIVERY

China port of ..

DESTINATION

The SGS or compatible World Class Inspection organization at the port of loading shall confirm the product quality and quantity conforms to the above specification

INSPECTION

Locations in Alegeria, Spain or Europe at Sellers choice

ORIGIN

US$ 485.00 MT (four hundred eighty five US Dollars per Metric Ton) CIF

PRICE

100,000 MT (one hundred thousand Metric Tons) per month x 12 consecutives months, total quantity 1,200,000 (one million two hundred thousand Metric Tons) with rolls and extensions. (Minimum quantity 30,000 X 12)

QUANTITY

f) Packing arrangement: bulk

e) The used rails can be cut to size 1.5m per buyer requirement, for length below 1.5m, 3USD per metric ton cut fee will be added.

d) All scraps shall be free of explosive and oily materials and woody substance in any event. The buyer and /or buyers government and/or the authorities of destination country has the right to ban and/ or refuse to accept the said commodities if it contains any banned material or the aforesaid conditions are violated.

c) Clean scrap without slag, dross, trash, wood, plastic, oily parts, grease, alloy, prohibited goods, whole sets of machine, vehicles, and usable parts for machines, cast iron, motor turning blocks, engine blocks, war and explosive or arm or plated materials, excess rust, corrosion, dust and dirt, mud or wastes and without any harmful impurities and totally free of radioactive contamination and poisonous material and any other materials exceeding the level accepted and allowed by international acceptable norms or the import regulations of Customs.

b) R65: used long rail steel scrap in compliance with ISRI standard classification R65 (64.72 kg/m) or ISRI Code 27 - 29, in length of 10 feet and over & Width 5 inches on per bar basis. Suitable for re-rolling into bars and shapes. Free from bent and twisted rails, frog, switches, and guard rails, or rails with split rail.

a) R50-R65: used long rail steel scrap in compliance with ISRI standard classification R50 (51.67 kg/m), Suitable for re-rolling into bars and shapes. Free from bent and twisted rails, frog, switches, and guard rails, or rails with split rail.

Scrap Steel to be supplied shall conform with the steel scrap specifications and standards of the Institute of Scrap Recycling Industries (ISRI) and shall be strictly limited to used rails and scrap steel to the standards specifically set out below:

SPECIFICATION, QUALITY AND STANDARD

Used long rails steel scrap R50 R65

PRODUCT

I am working directly with the seller for used rails. Please contact me if your interested.