India big oil refinery in Mongolia will be operational in 2026 tremendous benefits/India is building a big oil refinery in Mongolia, only so much time is left for it to become operational; There will be tremendous benefits

By Priyanka Tiwari February 11, 2024 6:34 PM IST

Oil refinery being built in Mongolia with the help of India.  - India TV Hindi

Image Source : FILE
Oil refinery being built in Mongolia with the help of India.

India is building a big oil refinery in Mongolia to overcome the shortage of gas and energy. This refinery will become operational in the next 2 years. Both India and Mongolia will benefit greatly from this refinery. With this, India will be able to supply everything from gasoline to liquid petroleum products. Mongolia’s Ambassador to India Dambajav Ganbold has said that the oil refinery project being built with Indian assistance in South Gobi is progressing in the right direction and it will be operational by 2026. He, however, acknowledged some delays from India in supplying products to the refinery plant.

According to Mongolia, “Of course, there have been some delays from the Indian side in the supply of products, but overall the project is progressing well. It is going to be operational soon.” Ganbold said that this project is important for the relations between the two countries and its completion is eagerly awaited. The project was announced during Prime Minister Narendra Modi’s visit to Mongolia in 2015. For this, India is providing loan assistance of 1.2 billion dollars.

Project delayed due to Covid

In the last years, due to Corona, the construction of the refinery has been delayed. He said, “Work on the refinery project is going well. Due to Covid it has been delayed by one and a half years. We believe it will be operational by 2026.” The refinery aims to reduce Mongolia’s dependence on oil imports from Russia. (Language)

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