Hyderabad-based Megha Engineering and Infrastructures Restricted (MEIL) has bagged a challenge to construct Mongolia’s first greenfield oil refinery, on the outskirts of the capital metropolis, Ulaanbaatar. The challenge is aimed toward decreasing the East Asian nation’s dependency on Russian oil imports.
Officers stated that the corporate would offer EPC (engineering, procurement and building) companies and EPC-3 (captive energy crops) at a value of $790 million utilizing superior know-how. The challenge is a part of the event partnership administration initiative of India’s Ministry of Exterior Affairs. The refinery can be constructed utilizing a line of credit score from the central authorities.
Engineers India Restricted is the challenge administration advisor for this G2G partnership challenge. Within the years to come back, the officers stated, this refinery will open up quite a lot of employment alternatives, supporting the expansion of close by small industries.
A press release from the corporate stated, “This downstream challenge is of monumental significance and marks a essential turning level within the relationship between India and Mongolia and in MEIL’s growth technique within the hydrocarbons sector. As well as, the challenge will carry financial prosperity and power independence to Mongolia.”
A pipeline and an influence plant are a part of the refinery’s operations. Firm officers stated the refinery would be capable of course of 30,000 barrels of crude oil day by day, or 1.5 million tonnes yearly, decreasing Mongolia’s dependency on Russian oil. It will assist the nation meet its wants for petroleum merchandise reminiscent of gasoline, diesel, aviation gasoline and liquefied petroleum gasoline.