News Headlines

Feasibility study on oil refinery to be ready next year


2017-11-14 14:01:54
Image
Ulaanbaatar /MONTSAME/ On November 14, Deputy Prime Minister U. Enkhtuvshin met Suresh Babu, Ambassador of the Republic of India.

During the meeting, they shared views on establishing oil refinery and IT outsourcing center with soft loan from the Government of India, on launching a direct flight as well as preparations for Asian Ministerial Conference on Disaster Risk Reduction to be organized next year in Ulaanbaatar.

The sides had the same opinion that Indian PM Narendra Modi’s visit has elevated bilateral relations and cooperation into a new level and they expressed their satisfactions with successful implementation of matters negotiated during the visit.

A feasibility study on oil refinery and pipelines will be conducted by an Indian company and the feasibility study is scheduled to be complete and transfered  next year. “Mongolian government pays a special attention on the implementation of this project which is strategically important for Mongolia,” pointed out Deputy PM.

U. Enkhtuvshin said that relevant ministers will be assigned to intensify the project on establishing IT outsourcing center and developing it into Data Center. He also thanked for the decision of Indian side to train emergency staff of Mongolia in the framework of organizing the Asian Ministerial Conference on Disaster Risk Reduction.

The parties also believe that opening of a direct flight between two counties will boost tourism and business development and attract Indian investors. To this extent, the bilateral trade turnover which is currently about USD27 million, is likely to rise. Furthermore,  big construction projects will be intensified.

In addition, they discussed about establishing a cyber-safety training center and developing relations and cooperation in border protection, defense, education and cultural sectors.
M. Unurzul