Mongolia NEWS

In a statement given yesterday, Indian EPC major, Engineers India Ltd (EIL) informed about signing an agreement to deliver project management consultancy (PMC) services for the new 1.5 million tonne refinery being established in Mongolia. EIL inked the deal with Mongol Refinery State Owned LLC. The state-run EPC firm had previously performed a Detailed Feasibility Study for the project.

Mongolia, today, began the construction of its first-ever oil refinery valued at $1.35 billion, set to be completed by 2022. The project which is carried out with financial assistance from India aims at ending Mongolia’s long-term dependence on Russian fuel. The refinery is estimated to have the capacity of processing 30,000 bpd of crude oil per year and includes a pipeline and its own power plant.