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.