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The Deputy Speaker of the Parliament received the Ambassador of the Republic of Belarus and executives of Exim Bank and Project Management Consulting Company.
On August 17, 2023, the Deputy Speaker of the Great Khural of Mongolia L. Monkhbaatar received the delegation led by the Ambassador Extraordinary and Plenipotentiary of the Republic of India to Mongolia M. P. Singh.
The meeting was attended by D. Altantsetseg, Executive Director of Mongolian Oil Refinery, Vartika Shukla, General Manager of Engineers India Limited, Project Management Consultant for Oil Refinery, Nirmit Narendra Ved, General Manager of EXIM Bank of BN, and other officials. people participated.
At the beginning of the meeting, the Deputy Speaker of the National Assembly L. Monkhbaatar congratulated the 76th anniversary of the independence of the Republic of India, noting that major projects and programs that will contribute significantly to enriching the strategic partnership between Mongolia and India with new content have been implemented and development is taking place intensively.
At the meeting, the parties discussed the progress of the oil refinery construction project and exchanged opinions.
Considering the time spent on the engineering work of each oil refinery facility, the construction work is divided into 4 parts: ЕРС-01, ЕРС-02, ЕРС-03, ЕРС-04 (ЕРС: Engineering-Purchase-Construction). ЕРС-01 package works or the construction of non-technological buildings started in 2021. We are working to deliver it within this year. The contractor for ERS-02 and 03 package works and construction of crude oil pipeline was selected in 2022 and the contract was signed. Currently, the design work is in the final stage, and the construction work at the factory site was officially started in April of this year. Ambassador MP Singh introduced the announcement of the tender for the selection of the EPC-04 package construction contractor. He noted that the Minister of Finance of Mongolia and Exim Bank of the Republic of Belarus signed a new loan agreement for the ЕРС-01, ЕРС-02, ЕРС-03 package of the oil refinery construction project in Mongolia and postponed the loan repayment period until 2030
Mr Bowley money now available to continue the project. New loan with Belarus
They'll be lucky if the refinery is operational before 2030 - good job it's of no consequence for PM!
So as I said Master where is the original loan of $1.2bill that the Indians provided the Mongolians to build the refinery ??
If the money was being used as intended, why all of a sudden are Belarus lending Mongolia more money to build the same project.
I told you where it had gone but everyone believed what the politicians were telling you.
Your learn !!!
Give us proof of your allegations mr Bowley. Can you do that? This is fair.
Is this same insider source that we see give you such fake intel like before where you embarrass yourself when RNS expose you as fraud very next day?
Reason why costs go up due to global price rises from world events which feed into all previous estimates. Also delay with manpower transit restriction & equipment supply route.
This was discuss few month ago in Mongolia news with site visit by Prime Minister who order this changes to help speed up delay in refinery. Like he say will put everything behind completion now.
This is what we hear from more reliable source with wide media coverage but you say in post "President stole all money".
This sound very sillly when seperate auditing process by Indian side did not even mention anything like this or any statement from Indian Minister, Bank representative or anywhere but some mystery source you say you have.
Maybe you are one who try to play BB like before with your big intel FAIL about Cabinet decision OR you are one who is someone else's PAWN 😏
Be happy but do not assume everyone is so easily fool sir 🦉
I’m surprised Belarus have got any money to lend, given how many sanctions they have on them.
Bowley
I am not sure how this is all completely relevant to PM but i am sure you believe so otherwise why would you post it. Personally i think this is more a matter for the Mongolian President and his government (other than the prime minister of course).
Having said all that there are a couple of questions which are fair to answer.
1) Are we sure that the extra loan assuming from Belarus of $1.2bn is actually to replace stolen money and not just because costs are over running on the project.
2) if the whole loan was stolen then how come there has been some work done on the project unless someone is paying out of government coffers. However if you are saying the Prime Minister has top sliced a bit off the loan then am i surprised the answer is no i reckon that happens almost everywhere.
3) Additional loan from Belarus seems a bit unlikely I am not sure they could get money out of the country for fear of it going to Moscow. And 1.2bn for a country with a GDP of 70bn is a lot of money especially as they probably know the first lot fell of a lorry then there's might also fall off the same lorry.
Rather than accept this blind from a source we do not know but you do i think there are a lot of questions that need answering first before blanket acceptance.
Borrowing from Belarus is another evidence of the shenanigans of the Mongolian bureaucracy. Loan is taken with the clear intention to take advantage of the very unstable political and economic situation in Belarus. Which is led by Lukashenko the same dictator and criminal like Putin, and who as his only ally, is indirectly involved in a criminal war against the Ukrainian people putting Belarus like Russia, under international sanctions. And given that Russia is losing this war, and the position of Lukashenko is getting worse and worse and a moment may come when a new rebellion will arise in the country to overthrow him. As it was already 3 years ago, when during the next elections he was almost thrown out of his post. So, a gang of descendants of Genghis Khan is conducting a new nix around the world and replenish their pockets. And not surprisingly, they succeed. And not only through the different kind of scams but also for quite legitimate open robbery of British or any other investors around the globe, as they are powerless and very easily can be sheared like sheeps.
Come on people, "the delegation of Belarus is being introduced by the Ambassador of India".
That doesn't happen. It's an editorial error.
There's no money coming from Belarus. It's only coming from India (and a little from GoM). There is no "extra loan"; it's all part of the original finance.
Belarus are not involved in the oil refinery.
https://montsame.mn/en/read/324917
Here is ORIGINAL article from OFFICIAL Govt news channel (maybe Belarus Ambassador hide under table lol).
"Deputy Speaker of the Great Khural, today received the delegation headed by MP Singh, Ambassador of India"
"The meeting was attended by D. Altansetseg (Exec Director if Mongolian Oil Refinery, Vertik Shukla, Nirmil Narendra Ved and other officials"
montsame.mn/mn/read/324907
Like I say must cross check all info & more important when you have frauds who say they have insider info. This way you can pull pants down on them 😏
Be Happy but with eyes open & pants up 🦉
Mr Under
You have already put link. Thank you. Like I say must cross check 👍
Thanks MrUnder, it's amazing what people dream up. Next it will be declared by the dreamers that Ukraine and Russia are in a joint venture to build the oil refinery. Let's get back to reality.
“There's no money coming from Belarus. It's only coming from India (and a little from GoM). There is no "extra loan"; it's all part of the original finance.”
So is this incorrect?:
“He noted that the Minister of Finance of Mongolia and Exim Bank of the Republic of Belarus signed a new loan agreement for the ЕРС-01, ЕРС-02, ЕРС-03 package of the oil refinery construction project in Mongolia and postponed the loan repayment period until 2030”
Doc83. Please read the correct version Belarus is not mentioned
Ulaanbaatar, August 17, 2023 /MONTSAME/. Today the Vice-Chairman of the State Great Khural of Mongolia L. Munkhbaatar received the delegation headed by the Ambassador Extraordinary and Plenipotentiary of the Republic of India to Mongolia M.P. Singh.
At the beginning of the meeting, the Vice-Chairman of the State Great Khural L. Munkhbaatar noted that major projects and programs significantly contribute to the enrichment of the Strategic Partnership between Mongolia and India with new content, and development is taking place intensively, and congratulated the Indian partners on the occasion of the 76th Anniversary of the Independence of the Republic of India. At the meeting, the parties discussed the progress of the Oil Refinery Construction Project and exchanged opinions.
Considering the time to spend on the engineering work of each oil refinery facility, the construction work is divided into 4 parts: ЕРС-01, ЕРС-02, ЕРС-03, and ЕРС-04 (ЕРС: Engineering-Procurement-Construction). ЕРС-01 package work or construction of non-technological buildings started in 2021. They are working to hand it over within this year. The contractor for EPC-02 and 03 package works and construction of crude oil pipeline was selected in 2022 and the contract was signed. Currently, the design work is in the final stage, and the construction work at the factory site officially started in April of this year. H.E. Ambassador M.P. Singh presented the announcement of the tender for the selection of the EPC-04 package construction contractor. He noted that the Minister of Finance of Mongolia and Exim Bank of the Republic of India signed a new loan agreement on the ЕРС-01, ЕРС-02, ЕРС-03 projects for the construction of the oil refinery in Mongolia, and postponed the loan repayment until 2030.
CEO of Engineers India Limited Vartika Shukla said that due to the pandemic and international geopolitical situation, increase of the price of materials, machinery and equipment on the world market affects the total investment expenses of the project. As it is necessary to solve the problem of additional funding for the implementation of the EPC-04 set of works, she asked the Parliament to support their endeavors.
With the completion of the oil refinery, Mongolia will get rid of dependence on fuel imports, and a new branch of the petrochemical industry will be created in the country reducing foreign trade deficit. The Vice-Chairman of the State Great Khural of Mongolia L. Munkhbaatar underscored that the Parliament will fully support and pay attention to the creation of a favorable legal environment and the coordination of relevant institutions in order to successfully implement the project, a symbol of cooperation between the two countries.
Executive Director of "Mongolian Oil Refinery" LLC D. Altantsetseg, Project Management Consultant for Oil Refinery, Chairman and Managing Direc
Thanks, Pilsbury.
So this bit: "He noted that the Minister of Finance of Mongolia and Exim Bank of the Republic of India..." says Exim Bank of India. The other link said Exim bank of Belarus!
Who has tried to mislead us here?
I don't know who is trying to mislead us. The link with the correct version came from the Mongolian National News Agency along with the photo of the delegates who attended the meeting.