MEIL forays into Mongolia; will build the country’s 1st greenfield oil refinery
Megha Engineering & Infrastructures Limited (MEIL) has received the LOA for the Mongol Refinery Project, which entails building Mongolia’s first oil refinery. According to the EPC deal, MEIL will build this new refinery in Mongolia.
MEIL will build EPC-2 (Open Art Units, Utilities & Offsites, Plant Buildings) and EPC-3 (Captive Power Plants) at a cost of USD 790 million using advanced technology in Mongolia.
The project is part of the Development Partnership Administration initiative of the Ministry of External Affairs (MEA), Government of India. It will be built using a line of credit from the Government of India.
Engineers India Limited (EIL) is the Project Management Consultant (PMC) for this G2G partnership project.
In the years to come, this refinery will open up a number of employment opportunities, supporting the growth of nearby small industries, and thereby leading to Mongolia’s economic development.
According to MEIL’s spokesperson, “This downstream project is of enormous importance and marks a critical turning point in the relationship between India and Mongolia and in MEIL’s expansion strategy in the hydrocarbons sector. In addition, the project will bring economic prosperity and energy independence to Mongolia.”