India, Mongolia to ink pact for petrochemical unit
Petrochemical refinery--near Sainshand in southern Dornogovi province--is to be built at an approximate cost of $1.25 billion
Refinery is expected to cut some of Mongolia’s dependence on Russian fuel
NEW DELHI : India and Mongolia are expected to sign an agreement this week for the construction of Mongolia’s first petrochemical refinery that is expected to cut some of its dependence on Russian fuel. When signed, the project will be the largest being undertaken by the government of India under its Lines of Credit programme, two people familiar with the matter said on Sunday.