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Speaker G.Zandanshatar visits construction site of oil refinery in Dornogobi aimag www.montsame.mn
Ulaanbaatar /MONTSAME/. Speaker of the Parliament G.Zandanshatar visited Altanshiree soum of Dornogobi aimag yesterday, July 21, and got acquainted with the construction process of the oil refining plant.
The construction of the plant’s road and railroad has been completed and a cast iron processing plant, at the initiative of Member of the Parliament B.Delgersaikhan, is being built based on the infrastructure.
The oil refinery plant which is being built with the soft loan of USD 1.236 billion of Exim Bank of the Republic of India is capable of refining 1.5 million tons of oil a year. Every year, Mongolia consumes 1.3 million tons of imported fuel worth approximately USD 1 billion. The increase of oil price on world markets negatively impacts Mongolia’s economy. By completing the oil refinery, Mongolia will not only be allowed to be independent from fluctuating oil prices on world market, but also will save USD 1 billion domestically.
Minister of Road and Transport Development L.Khaltar, MP B.Delgersaikhan accompanied the Speaker, becoming acquainted with the construction process.
Published Date:2020-07-22
