FOUNDATION-LAYING CEREMONY OF MONGOLIA’S FIRST OIL REFINERY HELD

Ulaanbaatar /MONTSAME/ The foundation-laying ceremony of oil refinery to be built in Altanshiree soum of Dornogobi aimag has taken place today, on June 22, commencing its infrastructure works. The construction of the oil refinery funded with a soft loan of USD 1 billion from the Government of the Republic of India will be implemented in two stages. Minister of Home Affairs of the Republic of India Rajnath Singh attended the ceremony as part of his visit to Mongolia at the invitation of Prime Minister U.Khurelsukh. “This project is writing a new history in diplomatic cooperation of the two countries which has over 60 years of history. I believe that the project would bring big progress in development of bilateral friendly ties and strengthen strategic partnership.” Mr. Rajnath Singh said. Expressing his gratitude to Mr. Rajnath Singh on attending the ceremony, PM U.Khurelsukh said it is a historic decision for Mongolia to have an oil refinery. "The event is bringing development of bilateral relations and cooperation to a new level." The oil refinery with estimated annual capacity of 1.5 million tons of crude oil will cover 150 hectares of land. The Government of Mongolia launched the work to establish the oil refinery in September, 2017 and the new refinary is planned for completion in 2022. B.Batchimeg