CURRENT AFFAIRS

Detailed explanation-1: -Hyderabad-based Megha Engineering and Infrastructures Limited (MEIL) has bagged a project to build Mongolia’s first greenfield oil refinery, on the outskirts of the capital city, Ulaanbaatar. The project is aimed at reducing the East Asian country’s dependency on Russian oil imports.

Detailed explanation-2: -Megha Engineering and Infrastructure (MEIL) of Hyderabad has begun work on Mongolia’s first Greenfield oil refinery on the outskirts of the capital city of Ulaanbaatar. The project’s goal is to reduce the East Asian country’s reliance on Russian oil imports.

Detailed explanation-3: -The Indian Petroleum refining sector has come a long way since crude oil was discovered and the first refinery was set up at Digboi in 1901.

Detailed explanation-4: -MEIL will build EPC-2 (Open Art Units, Utilities & Offsites, Plant Buildings) and EPC-3 (Captive Power Plants) at a cost of USD 790 million using advanced technology in Mongolia. The project is part of the Development Partnership Administration initiative of the Ministry of External Affairs (MEA), Government of India.

Detailed explanation-5: -Greenfield Project In the case of oil and gas, completely new projects in undeveloped areas, such as the construction of new refineries or the construction of chemical or petrochemical plants, are greenfield projects.