Ulaanbaatar
255 hectares of area taken under the state special needs
Politics
Ulaanbaatar /MONTSAME/. According to a decision made during today's Cabinet Meeting, 255 hectares of area that cover territory of Altanshiree soum of Dornogobi province will be taken under the state special needs with a purpose subject to oil refinery plant.
Establishment of the first oil refinery plant is covering 150 hectares of area. Additional 255 hectares of area is being taken under the state special needs in case there will be extra area required for expanding or building new plant, said Ts.Ganzorig, Chairman of Government Media and Public Relations Office.
“USD1 billion is to invested to the oil-refinery plant under a Government of India Line of Credit (LoC). The Indian side has also announced that they approved a request from the Government of Mongolia to extend an additional Line of Credit (LoC) of USD236 million for the project. The infrastructure works of the plant including construction of railroad, auto road and power transmission line have been completed. Transportation and installment of equipment and facilities will be starting in March, 2020 while the plant is scheduled to be commissioned in 2023. The oil refinery plant is expected to bring positive results such as decrease of US Dollar outflow by 20-30 percent and increase of national currency and moreover, 600-700 job vacancies will be created within the framework of this project. In addition, apartment buildings of 550 households for the refinery workers is under construct” he added.
The Republic of Indian Minister of Petroleum and Natural Gas is scheduled to pay a visit to Mongolia on October 8 and visit the oil refinery construction site to review the development progress.
