India’s largest overseas development project — the $1.7 billion Mongol Oil Refinery, funded through a line of credit from New Delhi — is expected to be completed and operational by 2028, the Ministry of External Affairs (MEA) announced on Tuesday.

Speaking at a media briefing following the visit of Mongolian President Ukhnaagiin Khurelsukh to India, Secretary (East) P Kumaran said the landmark refinery project, being built with Indian assistance, is on track despite earlier delays due to Covid-19 and Mongolia’s harsh weather conditions.

“The refinery is coming up very well. Almost all the civil work is over. Refinery equipment is being manufactured in India and will soon be shipped to Mongolia,” said Kumaran.

“We expect that by 2028, the refinery should be in operation. The Mongolian go

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