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India and Mongolia can collaborate together to boost commercial linkages said Minister of Petroleum and Natural Gas, Dharmendra Pradhan.
Speaking at the ‘Business Meeting with President of Mongolia’ organised by industry chambers, Pradhan said, “The construction of $ 1 billion oil refinery, with 1.5 million metric tonne capacity with Indian assistance is a shining example of our friendship. I am glad that EIL is providing consultancy for this project. Upon completion in 2022, this project will meet about 3/4th requirement of petroleum products in Mongolia. This will help develop ancillary industries too.”
Pradhan said that Coking coal from Mongolia can support India’s demand for this sector. He added that mining contributes to more than one-fifth of the Gross Domestic Product (GDP) of Mongolia is an attractive area for joint exploration in copper, rare earth metal and others.
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