New Delhi: A Memorandum of Understanding (MoU) was signed between Engineers India Ltd (EIL), a public sector company under the Ministry of Petroleum and Natural Gas, and the government of Mongolia on the sidelines of Petrotech 2019 on Sunday. The MoU is for project management consultancy services for the construction of Mongol Refinery State Owned LLC, an oil refinery plant, in Mongolia by EIL. The government of Mongolia is in the process to set-up 1.5 MMTPA greenfield crude oil refinery in Sainshand province, under the Line of Credit (LoC) extended by the government of India.

EIL has carried out a detailed feasibility study for the project. It has been pre-qualified and subsequently shortlisted for providing project management consultancy services to Mongol Refinery for the project. The MoU was signed by Dr Altantsetseg Dashdavaa, Executive Director, Mongol Refinery State Owned LLC and RK Sabharwal, Director (Commercial), EIL in the presence of Union Minister for Petroleum and Natural Gas Dharmendra Pradhan and the Mongolian minister.

Pradhan hailed the agreement as historic in the energy history of India and Mongolia and added, "The upcoming refinery will be the energy lifeline of Mongolia and will go a long way in making Mongolia self-reliant in petroleum products."