New Delhi, Oct. 14 -- An India-supported mega oil refinery in Mongolia, the Dornogobi Oil Refinery, being built with a $1.7 billion Line of Credit (LoC), is slated to become operational in 2028. Mongolia is also keen for India to tap its vast coal reserves as well as uranium, said a top official today.
Briefing the media on the talks between Prime Minister Narendra Modi and visiting Mongolian President Khurelsukh Ukhnaa, Secretary East P Kumaran said the oil refinery, designed to process 1.5 million tons of crude annually, will help reduce Mongolia's reliance on Russian oil imports.
"The Line of Credit of $ 1.7 billion is India's largest supported project. Originally, the oil refinery was estimated at $ 1.2 billion, but some delays took p...