www.unuudur.com » Toyo Engineering and partners to build first oil refinery in Mongolia for $600m

Toyo Engineering and partners to build first oil refinery in Mongolia for $600m

[Нийтэлсэн: 14:31 18.01.2013 ]

www.energy-business-review.com

Japan-based Toyo Engineering and other unnamed local companies will be building Mongolia’s first oil refinery by 2015 at a cost of $600m.

The country’s first refinery to be constructed in the Darkhan city, in Darkhan-Uul Province is expected to have a capacity to process two million metric tons of oil per year.

Mongolia is undertaking the project with the intention to reduce the country’s dependency on Russian imports for gasoline and other oil products, reported Bloomberg.

In February 2013, the companies are scheduled to discuss the funding aspect of the project with some Japanese banks. The investment in the facility can reportedly be reimbursed in four years.

Construction of the refinery is anticipated to be completed in three years, and the domestic production is expected to reduce the gasoline prices by 6% to 8%.

With no domestic refining facility, almost all of Mongolia’s gasoline and oil products are imported from Russia.



Шинээр

Copper price bears are out as first surplus in six years predicted
[Нийтэлсэн: 04.04.2018 ]
[Эх сурвалж: ]
Rio Sees $5 Billion Copper Expansion on Track Amid Probe
[Нийтэлсэн: 27.03.2018 ]
[Эх сурвалж: ]
Rio to build power plant at Oyu Tolgoi copper-gold mine in Mongolia
[Нийтэлсэн: 26.02.2018 ]
[Эх сурвалж: ]
Apple in talks to buy cobalt directly from miners
[Нийтэлсэн: 22.02.2018 ]
[Эх сурвалж: ]
Australian coal exports valued at AUS$56.5 billion in 2017
[Нийтэлсэн: 19.02.2018 ]
[Эх сурвалж: ]
Armed Forces celebrate graduation of officers from Mongolia
[Нийтэлсэн: 19.02.2018 ]
[Эх сурвалж: ]

Get Flash to see this player.