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Major trading house Marubeni Corp. said Wednesday it will participate with Toyo Engineering Corp. in completing Mongolia’s first oil refinery construction project.

The factory, which has an expected order value of about ¥50 billion, is expected to have a daily refining capacity of 44,000 barrels of crude oil, Marubeni said.

Local oil distributor Mongol Sekiyu Co. plans to build the factory in the northern city of Darkhan and expects to put it into operation in 2014.

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