India-built Mongolia refinery to be completed by 2025

India-built Mongolia refinery to be completed by 2025

Daily Current Affairs   /   India-built Mongolia refinery to be completed by 2025

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Category : International Published on: April 26 2023

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  • Mongolia’s first oil refinery, built and funded with Indian assistance, will be completed by 2025.
  • The first stage of Mongol Oil Refinery, built with a $1.2 billion Indian soft loan, will be completed at the end of this year.
  • Mongolia is completely dependent on Russia for its energy imports.
  • The refinery will enable Mongolia to satisfy 70% of its domestic demand.
  • Mongolia also hopes to attract Indian investment in its mining and metals, with plans to start shipping coking coal to India by 2024.
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