Mongolia on Friday launched the construction of its first oil refinery, which is funded by India, at Altanshiree Soum in southern Dornogovi province.
The ground-breaking ceremony was attended by Union Home Minister Rajnath Singh along with Mongolian Prime Minister Ukhnaagiin Khürelsükh.
This refinery project has been financed by the Government of India through a line of credit of one billion USD.
"I give my best wishes to Mongolia for its first oil refinery. I am glad that India will support the project," Rajnath said while speaking at the inauguration ceremony of the oil refinery.
The Home Minister is on a three-day visit to Mongolia in a bid to further India's bilateral relationship with Mongolia and strengthen security cooperation.
"India wants to realise the huge potential of bilateral relations with Mongolia," he tweeted on Thursday.
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