India To Build $ 1.2 Oil Refinery In Mongolia – Burning Issues – Free PDF

INDIA – MONGOLIA COOPERATION

•  India helps Mongolia for its first petrochemical refinery
• The Mongol refinery project is the largest project undertaken by India under Lines of Credit (LoC) programme
• Once ready, the capacity of the refinery will be 1.5 million metric tons per annum

THE COST

•  The petrochemical refinery to be built at an approximate cost of $1.25 billion utilising the $1.236 billion line of credit from India
•  8000 crore – 9000 crore rupees

MONGOLIA AND INDIA

• The refinery is expected to be completed by 2022 and will help Mongolia to cut some of its dependence on Russian fuel. Though Mongolia is self-sufficient in oil and has its own oil fields, almost all of its crude oil is exported and all of its finished petrochemical products are imported. The refinery will reduce Mongolia’s import dependence and will ensure energy security for the country.

INDIA’S CONTRIBUTION

• Apart from the refinery, India has also developed infrastructure that would support the operations at Sainshand. Construction of 27 kilometres of railway line, 17.5 kilometres of road and 19 kilometres of power transmission line to connect the refinery to existing networks is almost complete and help the refinery operations immediately after production commences.

SAINSHAND,A PROVINCE LOCATED IN THE EASTERN GOBI DESERT

 INDIA – MONGOLIA RELATIONS

• Mongolia has been traditionally supporting India in the United Nations and various other international forums.
•  Mongolia voted in favour of India’s proposal to Yoga’s inscription into the list of UNESCO’s Intangible Cultural Heritage.
• Mongolia has publicly reiterated its support for India’s membership to the permanent seat of expanded UNSC.

OTHER ASPECTS

• The two countries have also signed Memorandum of Understandings (MoUs) on Space Cooperation and Disaster Management that will provide a new dimension to the India-Mongolia strategic partnership.
• A joint statement on space cooperation would allow “peaceful exploration” of outer space and include remote sensing and weather forecasting services for both the countries.
• Both sides took stock of the project to build a Cyber Security Training Centre to be established in Mongolia with Indian support.
• The scope of India and Mongolia regular military exercises named “Nomadic Elephant” and “Khaan Quest” is expected to be broadened.
• New Delhi’s attempts to boost cooperation with Mongolia comes against the backdrop of China making inroads into South Asia—Sri Lanka and Nepal besides Myanmar—considered India’s periphery.
• The showpiece One Belt One Road (OBOR) infrastructure initiative, first unveiled by Chinese president Xi Jinping in 2013, aims to put billions of dollars in infrastructure projects, including railways, ports and power grids across Asia, Africa and Europe.

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