"DORNOD OIL" COMPANY TO BE ESTABLISHED

Ulaanbaatar, Mongolia, /MONTSAME/ On Wednesday, the cabinet meeting considered as necessity to establish the "Dornod Oil" state-property-linked oil refinery company in Choibalsan, Dornod aimag.
The Minister of Mineral Resources and Energy D.Zorigt, and a head of the State Property Committee (SPC) D.Sugar have been ordered to organize the selection of a share-holder enterprise and to approve the company's rules.
As of today, some projects have satisfied international standards in erecting oil refineries with capability of two million tons in Darkhan city, 300 thousand tons --in Rashaant station, 120 thousand tons--in Dornod aimag, 330 thousand tons--in Zuunbayan, Dornod, and 50 thousand tons--in Zuunbayan.
It is required to invest USD 26-600 million to these projects. A period to erect the oil refineries is 1.5-4 years, according to calculations. Some 1,000 job places will be created when the projects are realized.
B.Khuder