With Indian Funding, Mongolia builds first ever oil Refinery!!

In this video, we will discuss the importance of First ever Mongolian Refinery

Reference -
https://twitter.com/rajnathsingh
https://en.wikipedia.org/wiki/Third_neighbor_policy
https://www.cnbctv18.com/economy/india-mongolia-to-cooperate-in-air-connectivity-trade-184631.htm
https://www.reuters.com/article/mongolia-refinery/mongolia-launches-construction-of-first-oil-refinery-with-indian-aid-idUSL4N1TO1TO

Transcript - 

Hello Friends, welcome to Real Quick Info channel. Lets discuss about today's topic.

You might know, with a population of 30 Lakh, Mongolia is land locked country in between two giants China and Russia.



Natural resource rich Mongolia has its own massive oil reserves, it harvests the crude oil and sells it to China. However to meet its domestic demand of gasoline, diesel, aviation fuel and Liquefied petroleum gas, its fully dependent on Russia.



The result is Mongolia has been artificially made over dependent on both Russia and China.





The reason for this has been very simple, Mongolia can drill crude oil, but it doesn't have its own refinery to process crude oil further.



Since 1997, People have dreamed about Mongolian Oil Refinery. However Due to lack of funding this dream could not become reality.



On the one hand, China is building massive infrastructure in other countries, but its not at all interested in building even a small oil refinery in Mongolia. Pakistan must learn from this, China builds infrastructure, only when it benefits China only.



On the other hand, Why Russia will destroy its own market by building refinery there in Mongolia?



While Mongolia continued to be exploited, 18 years later, Prime Minister Modi visited Mongolia and provided 1 Billion Dollar line of credit for first ever Mongolian refinery.



Finally, during recent visit of Indian Home Minister, Mongolia launched construction of this oil refinery to process its own crude oil.



Built At the total cost of 1.35 Billion dollar, this refinery will process about 30,000 Barrels per day.



Though its very small refinery, yet it will meet full Mongolian oil demand.



Moreover, since it will process Mongolian crude oil, Mongolia will become self reliant in this space.



The result is, once this oil refinery is up and running by year 2022, it can boost Mongolian gross domestic product by huge 10 percent.



In addition, Once Mongolia has its own oil refining capacity, it can happily drill more domestic crude oil.



Friends, Now you can understand, its a project where we are getting maximum value out of each Dollars spent in Mongolia.



Since this is friendly loan, Mongolia will return it sooner or later but more importantly, it will reduce over dependence of Mongolia on its two neighbors, who are happily exploiting it.



Now the focus should be on completing this project in time bound manner. This oil refinery should become a foundational stone of India Mongolia friendship.




China and Russia can sulk for now. Being a reliable friend, India is simply Fulfilling the objectives of Mongolian Third Neighbor policy.



As per your views, Is India wasting 1 Billion dollar in Mongolia by building this refinery?



Please let us know your views in comment section below.



Please find the reference links of this video in the description box below. Thank you friends for watching this video.

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