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 plunges to 1-year low
[Нийтэлсэн: 14.07.2018 ]
[Эх сурвалж: ]
Global Religion and the United Front: The Case of Mongolia
[Нийтэлсэн: 11.07.2018 ]
[Эх сурвалж: ]
Thermal coal prices hit 6-year high
[Нийтэлсэн: 09.07.2018 ]
[Эх сурвалж: ]
Former Rio Tinto exec jailed for corruption in China let free
[Нийтэлсэн: 09.07.2018 ]
[Эх сурвалж: ]
Copper price rallies to highest since January 2014
[Нийтэлсэн: 08.06.2018 ]
[Эх сурвалж: ]

Get Flash to see this player.