Deputy PM holds meeting with executives of Engineers India LimitedEconomy
Ulaanbaatar /MONTSAME/. On March 31, Deputy Prime Minister S.Amarsaikhan received the executives of Exim Bank of India and Engineers India Limited, the consultation company in charge of providing services for the management of the oil refinery construction project.
The meeting was also attended by Ambassador Extraordinary and Plenipotentiary of the Republic of India to Mongolia M.P.Singh.
The sides highlighted how the price of materials and their transport fees have increased due to the current situation, creating significant challenges in continuing onto the next stage of the project.
During the meeting, Minister of Mining and Heavy Industry G.Yondon said, “I am confident that works for the historic project being implemented by our two countries will be completed on time. The refinery’s construction work is being carried out as planned. Thus, I am putting forth a suggestion to urgently complete the process to select bidders, and continue to implement the project without losing any time.”
Deputy Prime Minister S.Amarsaikhan said, “The Government of Mongolia is paying special attention to the project being jointly implemented by the two countries. Thus, I believe that the pressing issues will be urgently resolved. It needs to pay attention to the estimation of potential risk and costs and the greater use of the workforce and materials available in Mongolia.”
The sides agreed to further discuss the matter at another meeting.