Mongolia to have oil refinery
The Mongolian parliament has approved a proposal to establish a state-owned company for constructing an oil refinery.
Mongolia is to have oil refinery. The Mongolian parliament has approved a proposal to establish a state-owned company for constructing an oil refinery. An agreement between the Mongolian government and Import-Export Bank of India was reached for a $1 billion loan for the construction of the refinery and associated infrastructure. The initial projections have put the facility’s turnover at $1.2 billion per year with net profits expected to reach $43 million per year, respectively. Regarding output, this is projected to comprise 560,000 tons of petrol, 670,000 tons of diesel and 107,000 tons of liquefied natural gas. In addition to saving as much as $1 billion a year in import costs, the new refinery could help boost Mongolia’s GDP by 10%.
Views: 1177
Tweet