Mongolia launches construction of India-funded oil refinery

Last Updated: Fri, Jun 22, 2018 20:11 hrs

[Mongolia], June 22 (ANI): Mongolia on Friday launched the construction of its first oil refinery, which is funded by India, at Altanshiree Soum in southern Dornogovi province.

The ground-breaking ceremony was attended by Union Home Minister Rajnath Singh along with Mongolian Prime Minister Ukhnaagiin Khürelsükh.

This refinery project has been financed by the Government of India through a line of credit of one billion USD.

"I give my best wishes to Mongolia for its first oil refinery. I am glad that India will support the project," Rajnath said while speaking at the inauguration ceremony of the oil refinery.

The Home Minister is on a three-day visit to Mongolia in a bid to further India's bilateral relationship with Mongolia and strengthen security cooperation.

"India wants to realise the huge potential of bilateral relations with Mongolia," he tweeted on Thursday.(ANI)