Hyderabad-based Megha Engineering and Infrastructure Limited (MEIL) has taken up a project to build Mongolia’s first Greenfield oil refinery on the outskirts of the capital city, Ulaanbaatar. The project is aimed at reducing the East Asian country’s dependency on Russian oil imports. The company would provide EPC (Engineering, procurement, and construction) services and EPC-3 (captive power plants) for $790 million using advanced technology.
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Hyderabad’s Megha Ltd to Build Mongolia’s First Greenfield Oil Refinery- Key Points
- The project is a part of the development partnership administration initiative of India’s Ministry of External Affairs.
- The refinery would be built using a line of credit from the central government.
- Engineers India Limited is the project management consultant for this G2G partnership project.
- The refinery will open up a number of employment opportunities, supporting the growth of nearly small industries.
- This downstream project is of enormous importance and marks a critical turning point in the relationship between India and Mongolia.
- The project will bring economic prosperity and energy independence to Mongolia.