The Economic Times daily newspaper is available online now.

    Engineers India Ltd signs pact for 1.5 mt refinery in Mongolia

    Synopsis

    The contract was signed in the presence of D Sumyaabazar, Minister of Mining and Heavy Industry of Mongolia.

    Oil-generic-AgenciesAgencies
    The pact was signed with Mongol Refinery State Owned LLC.
    State-owned Engineers India Ltd (EIL) Wednesday said it has signed an agreement to provide project management consultancy for a new 1.5 million tonne refinery being set up in Mongolia.

    The pact was signed with Mongol Refinery State Owned LLC, the company said in a statement here.

    The contract was signed in the presence of D Sumyaabazar, Minister of Mining and Heavy Industry of Mongolia.

    India had extended a USD 1 billion (about Rs 7,000 crore) line of credit to Mongolia during the visit of Prime Minister Narendra Modi in 2015.

    The Mongolian government is in the process to set up 1.5 million tonne per annum greenfield crude oil refinery in Sainshand province, under the line of credit extended by India.

    EIL had carried out a Detailed Feasibility Study for the project and was subsequently pre-qualified and shortlisted for providing project management consultancy services to Mongol Refinery for the project.


    (You can now subscribe to our Economic Times WhatsApp channel)
    (Catch all the Business News, Breaking News Budget 2024 News, Budget 2024 Live Coverage, Events and Latest News Updates on The Economic Times.)

    Download The Economic Times News App to get Daily Market Updates & Live Business News.

    ...more

    (You can now subscribe to our Economic Times WhatsApp channel)
    (Catch all the Business News, Breaking News Budget 2024 News, Budget 2024 Live Coverage, Events and Latest News Updates on The Economic Times.)

    Download The Economic Times News App to get Daily Market Updates & Live Business News.

    ...more
    The Economic Times

    Stories you might be interested in