Engineers India LtdNSE -3.28 % has won a project management consultancy contract from Mangolia for a new 1.5 million tonnes refinery that the country is setting up. Engineers India Ltd and the Mongolian government through Mongol Refinery State Owned LLC signed a Memorandum of Understanding (MoU) Sunday on the sidelines of the Petrotech conference here in the outskirts of Delhi.
Oil Minister Dharmendra Pradhan said India had extended a USD 1 billion line of credit to Mangolia during the visit of Prime Minister Narendra Modi in 2015. The refinery project is being built using that line of credit, he said. "The marks embracing new height in bilateral relations," Pradhan added. The MoU is for Project Management Consultancy services for construction of an oil refinery plant in Mongolia by EIL.