Daily Current Affairs 2021 EIL CMD RK Sabharwal gets the highest civilian award of Mongolia | Daily Current Affairs 2021

EIL CMD RK Sabharwal gets the highest civilian award of Mongolia

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The Order of Polar Star by his Excellency

RK Sabharwal who is the Engineers Chairman & Managing Director (CMD) of India Limited (EIL) has been honoured with the highest civilian award of Mongolia ‘The Order of Polar Star by his Excellency.

Highlights:

  • Sabharwal was bestowed with the honour by His Excellency, the President of Mongolia, Ukhnaa Khurelsukh for an outstanding contribution towards the establishment of the first-ever oil refinery in Mongolia.
  • ‘The Order of Polar Star’ was presented to him, on behalf of the government of Mongolia, by His Excellency, the Ambassador of Mongolia to India, Mr. Gonching Ganbold.
  • He was presented the prestigious award at a ceremony that was organized at the Embassy of Mongolia, India.

About the award:

  • The ‘Order of Polar Star’ is the most desirable and prestigious state award bestowed by the President of Mongolia.
  • It is highly valuable and distinguished and recognizes individuals who have made an invaluable contribution with their outstanding hard work, intelligence and sincerity to the prosperity of Mongolia and its friendship with other nations.
  • This award is also given for outstanding contributions in the fields of arts, culture, science and humanity.

About The establishment of an oil refinery in Mongolia:

  • In 2015, Prime Minister Narendra Modi, the first Indian Prime Minister to visit Mongolia, had announced an extension of a line of credit worth USD 1 billion by the Indian Government to Mongolia to expand its economic capacity and infrastructure, as they decided to upgrade their relationship from Comprehensive to “Strategic Partnership”.
  • After several discussions, the Government of Mongolia decided to utilize this line of credit towards setting up the first Oil Refinery of Mongolia.
  • The project has been the harbinger of the economic and energy independence of the country and has ensured its sustained growth and development.

Role of EIL in Mongolia:

  • After the continuous efforts, Engineers India Limited (EIL), a public sector undertaking of the Ministry of Petroleum and Natural Gas was able to secure the contract for providing the Project Management Consultancy (PMC) services for the 1.5 MMTPA Grassroot refinery project.
  • EIL is providing project management consultancy services for this refinery project.
  • On completion of the project, it will meet about three-fourth of Mongolian requirement of oil.
  • The refinery is expected to be completed by 2022.
  • Currently, the work on the oil refinery has been progressing well and while creating job opportunities in Mongolia, it also provides great opportunities to the Indian Industry to provide its goods and services to the refinery.

About Mongolia:

  • Mongolia is a landlocked country in East Asia.
  • It is a nation bordered by China and Russia.
  • Its capital is Ulaanbaatar which centers around Chinggis Khaan (Genghis Khan) Square, named for the notorious founder of the 13th- and 14th-century Mongol Empire.
  • The currency used here is Mongolian Togrog.
  • The current President of Mongolia is Ukhnaa Khurelsukh.

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