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Mongolia’s first oil refinery, a long-awaited project that is funded by Export-Import Bank of India ( Exim Bank), is expected to be completed by 2025.
Executive Director of the Mongolian Oil Refinery D.Altantsetseg said the refinery, in southern Dornogovi province, will be capable of processing 1.5 million tonnes of crude oil per year.
Deputy minister of mining and heavy industry O.Batnairamdal said the plant will provide Mongolia with 55-60 percent of its domestic oil production.
JMC Projects India has been selected as a general contractor in charge of the first phase of the oil refinery construction while Engineers India Limited, a state-owned Indian firm, has served as a Project Management Consultant.