ULAN BATOR, Oct 9 (NNN-MONGOLIA WEB) – A ceremony to commission infrastructure facilities, to support the proposed oil refinery project in Mongolia was held in the southeastern Dornogovi Province.
Domestic oil production and supply, play an important role in a country’s economic development. The project was financed by a loan from India, which was announced during Indian Prime Minister, Narendra Modi’s visit to the country in 2015, said Mongolian Prime Minister, Ukhnaa Khurelsukh, at the ceremony.
“Taking this opportunity, I would like to thank the Indian government and its people, for helping Mongolia to build our first oil refinery,” he added.
“I’m happy to share that, on Mongolian request, India announced an additional 236-million-U.S. dollar line of credit, beyond the committed one billion U.S. dollars,” said Dharmendra Pradhan, India’s Minister of Petroleum and Natural Gas.
Pradhan said, the Engineers India Limited, a public sector undertaking of the Ministry of Petroleum and Natural Gas, is providing project management consultancy services for this refinery project.
The refinery will have a processing capacity of 1.5 million metric tonnes of oil per year, and will annually produce 560,000 tonnes of gasoline and 670,000 tonnes of diesel fuel, as well as 107,000 tonnes of liquefied gas.
The refinery is expected to be completed by 2022.– NNN-MONGOLIA WEB