Indian-based engineering firm Megha Engineering and Infrastructures Ltd (MEIL) said on Friday it has secured a USD 648 million contract in Mongolia.

“The company received a Letter of Agreement (LOA) for constructing a crude oil refinery plant valued at USD 648 million from Mongol Refinery State Owned LLC,” a company statement said.

Upon completion, the refinery is expected to process 1.5 million metric tons of crude oil annually, catering to Mongolia’s domestic demand for gasoline, diesel, aviation fuel, and LPG.