PREMIER LOOKS INTO PETROLEUM RE­FIN­ERY PROJECT

The UB Post - - POLITICS - By T.BAYARBAT

Prime Min­is­ter U.Khurel­sukh re­ceived Am­bas­sador Ex­tra­or­di­nary and Plenipo­ten­tiary of the Re­pub­lic of In­dia to Mon­go­lia Suresh Babu to dis­cuss the progress of a co­op­er­a­tion project be­tween the two coun­tries.

Dur­ing their meet­ing, the Prime Min­is­ter em­pha­sized that the gov­ern­ment will con­cen­trate on ac­cel­er­at­ing a petroleum re­fin­ery project which will be funded with a loan of one bil­lion USD that In­dian Prime Min­is­ter Naren­dra Modi of­fered dur­ing his visit to Mon­go­lia in 2015.

The am­bas­sador noted that a nine-mem­ber task force is com­ing to Mon­go­lia from In­dia to study the loan’s pro­posed ex­pen­di­ture.

Prime Min­is­ter U.Khurel­sukh stated that Mon­go­lia has a prob­lem where high rank­ing of­fi­cials do not seek to im­ple­ment agree­ments, projects and pro­grams that have been reached, and noted that col­lab­o­ra­tion be­tween state or­ga­ni­za­tions in charge of megapro­jects is murky, which is why projects stop and are de­layed.

He pointed out that as es­tab­lish­ing a petroleum re­fin­ery is of sig­nif­i­cant im­por­tance for meet­ing do­mes­tic fuel de­mand by stop­ping and re­duc­ing fuel im­ports, he is pay­ing a great deal of at­ten­tion to this project.

Am­bas­sador Babu un­der­lined that the two coun­tries are work­ing to im­ple­ment sev­eral projects with strate­gic im­por­tance, and the gov­ern­ment of In­dia and the Em­bassy of In­dia in Ulaan­baatar will ac­tively col­lab­o­rate with Mon­go­lia to suc­cess­fully im­ple­ment on­go­ing and up­com­ing projects.

He added that the project which will be im­ple­mented through In­dia’s one bil­lion USD loan in Mon­go­lia is un­der re­view by the In­dian gov­ern­ment and is ex­pected to move in the right di­rec­tion.

Mon­go­lia ex­ports cashmere and wool to In­dia, and im­ports vac­cines, med­i­cal prod­ucts and mo­tor­cy­cles from In­dia. The trade turnover be­tween the two coun­tries reached 27 mil­lion USD in 2016.

Am­bas­sador Babu meets with Prime Min­is­ter U.Khurel­sukh

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