India and Mongolia are close neighbours, says PM Modi
India, a strong and reliable partner in Mongolia’s development, is extending US$1.7 billion line of credit for an oil refinery and the landlocked country’s energy security.
The Mongol Oil Refinery is expected to be operational by 2028, the Ministry of External Affairs said on 14 Oct.
For Mongolia, the refinery represents a vital step towards energy self-reliance; while for India, it reinforces its role as a trusted development partner in the Indo-Pacific and Eurasian regions, said MEA.
“The refinery is coming up very well. Almost all the civil work is over. Refinery equipment is being manufactured in India and will soon be shipped to Mongolia,” said Secretary (East) P Kumaran.
“The Mongolian government attaches great importance to this project as it will help them achieve energy independence by refining their own crude oil rather than exporting it,” he added.
It is India’s largest development partnership project globally, with over 2,500 Indian professionals working alongside their Mongolian counterparts to make it a reality, said Prime Minister Narendra Modi after hosting visiting President Ukhnaagiin Khurelsukh.
“Our relationship goes beyond the Central Governments. The MoU signed today between the Ladakh Autonomous Hill Development Council and Mongolia’s Arkhangai Province will give a fresh boost to our cultural ties.
“Even though we do not share a border, India has always considered Mongolia a close neighbour. We will continue to strengthen people-to-people ties,” he said.
The two nations elevated bilateral diplomatic relations to a Strategic Partnership which over the past decade has grown stronger and deeper across every dimension.
PM Modi elaborated, “Our defence and security cooperation is also steadily strengthening. We have launched several new initiatives, from training programs to the appointment of a Defense Attaché at the Embassy. India will also launch a new capacity-building program for Mongolia’s border security forces.” Fiinews.com
