May 16

Engineers India Ltd signs pact for 1.5 mt refinery in Mongolia

New Delhi: State-owned Engineers India Ltd (EIL) Wednesday said it has signed an agreement to provide project management consultancy for a new 1.5 million tonne refinery being set up in Mongolia.

The pact was signed with Mongol Refinery State Owned LLC, the company said in a statement here.

The contract was signed in the presence of D Sumyaabazar, Minister of Mining and Heavy Industry of Mongolia.

India had extended a USD 1 billion (about Rs 7,000 crore) line of credit to Mongolia during the visit of Prime Minister Narendra Modi in 2015.

The Mongolian government is in the process to set up 1.5 million tonne per annum greenfield crude oil refinery in Sainshand province, under the line of credit extended by India.

EIL had carried out a Detailed Feasibility Study for the project and was subsequently pre-qualified and shortlisted for providing project management consultancy services to Mongol Refinery for the project. 

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