Mongolia
Indian firm to construct Mongolia’s first greenfield oil refinery
Hyderabad: An Indian city Hyderabad-based firm Megha Engineering and Infrastructures Limited (MEIL) has bagged a project to build Mongolia’s first greenfield oil refinery just outside Ulaanbaatar city.
Officials said that the company would provide EPC (engineering, procurement and construction) services and EPC-3 (captive power plants) at a cost of $790 million using advanced technology, reports The Indian Express.
This project is a part of the development partnership administration initiative of India’s Ministry of External Affairs.
The refinery would be built using a line of credit from the Indian government.
Engineers India Limited, which is the project management consultant for this G2G partnership project, said in a statement as quoted by The Indian Express: "This downstream project is of enormous importance and marks a critical turning point in the relationship between India and Mongolia and in MEIL’s expansion strategy in the hydrocarbons sector. In addition, the project will bring economic prosperity and energy independence to Mongolia.”
Support Our Journalism
We cannot do without you.. your contribution supports unbiased journalism
IBNS is not driven by any ism- not wokeism, not racism, not skewed secularism, not hyper right-wing or left liberal ideals, nor by any hardline religious beliefs or hyper nationalism. We want to serve you good old objective news, as they are. We do not judge or preach. We let people decide for themselves. We only try to present factual and well-sourced news.
