Engineers India Ltd (EIL) on Sunday signed a project management consultancy contract for 1.5 million tonne greenfield refinery in Mongolia.
A memorandum of understanding (MoU) was signed by EIL and Mongol Refinery State Owned LLC in the presence of Petroleum Minister Dharmendra Pradhan on the sidelines of the Petrotech 2019 that got underway at Greater Noida in the national capital region (NCR) on Sunday.
"India extended a $1 billion line of credit to Mongolia during the visit of Prime Minister Narendra Modi in 2015. The refinery is being built using that line of credit," Pradhan said.
"It marks a new height in bilateral relations," he said.
EIL has done a detailed feasibility study for the project, Pradhan added.