Mongolia thanks India for line of credit to support oil refinery project


Mongolia thanks India for line of credit to support oil refinery project

Mongolia on Tuesday appreciated India for extending a line of credit to support its oil refinery project. This comes at a  time when Union Minister Dharmendra Pradhan is on a two-day-visit to the East-Asian nation efforts to finalise the commissioning of Mongolia’s oil refinery project near Sainshand that is being funded by New Delhi.

The refinery project is being developed under a line of credit of USD 1.236 billion extended by New Delhi during Prime Minister Narendra Modi’s visit to Mongolia in 2015 and subsequently enhanced during the state visit of Mongolian President Khaltmaagiin Battulga to India in September 2019.

Earlier in the day, Pradhan met Mongolia’s Foreign Minister Damdin Tsogtbaatar in Sainshand, a province located in the eastern Gobi desert region and famous for oil reserves. Read more

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