Shri Dharmendra Pradhan who is the Minister of Petroleum & Natural Gas and Steel, accompanied by an official and business delegation, paid a 3-day official visit to Mongolia on 7-9 October 2019. This is a follow up of the recent visit by Mongolian President Khaltmaagiin Battulga to India. Upon his arrival, he met Mongolia’s Heavy industry and mining minister Nandinjargal Ganbold and held various delegation-level talks in Ulaanbaatar, Mongolia.
Commissioning of infrastructure facilities
On October 8, 2019 Shri Dharmendra Pradhan participated in the ceremony for commissioning the infrastructure facilities constructed to support the proposed 1.5 MMT(million metric tonnes) oil refinery project in Mongolia. It is the largest project undertaken by India under the Lines of Credit (LoC) programme. It is Mongolia’s first petrochemical refinery.
- LoC of USD 236 million: During the ceremony, Shri Pradhan announced India’s additional US $ 236 million Line of Credit(LoC) to Mongolia from its previous committed value of US$ 1 billion. This project once completed, will boost Mongolia’s economic development and will meet 3/4th of oil requirement of Mongolia.
- EIL: Petroleum and natural gas ministry’s public sector undertaking, the Engineer India Ltd, will be the provider of project management consultancy services to the project.
- Project: The construction project of the petrochemical refinery will be completed by 2022. This refinery will be built near Sainshand in the southern Dornogovi province of Mongolia.
- Members present: Mongolian Prime Minister Mr. UkhnaagiinKhurelsukh, six cabinet ministers, Mongolia’sDornogovi Province Governor, Mr. T. Enkhtuvsh participated in the ceremony.
About Mongolia:
Capital- Ulaanbaatar
Currency- Mongolian tögrög.