India and Nepal have signed a landmark Business-to-Business (B2B) Framework Agreement aimed at enhancing petroleum infrastructure in Nepal. The agreement includes the construction of a 50-kilometer petroleum pipeline from Siliguri, India, to Charaali, Jhapa in Nepal.<\/p>\n\n\n\n
The agreement was signed by Dr. Chandika Prasad Bhatta, Executive Director of Nepal Oil Corporation (NOC), and Senthil Kumar, Director of Indian Oil Corporation (IOC) Limited, at a program held today, as reported by The Himalayan Times.<\/p>\n\n\n\n
Also present at the signing were Pankaj Jain, Secretary of the Indian Ministry of Petroleum and Natural Gas, and V. Satish Kumar, Chairperson of the IOC.<\/p>\n\n\n\n
The IOC described the agreement as a significant step forward in the energy cooperation between India and Nepal, further strengthening the two nations’ partnership.<\/p>\n\n\n\n
In addition to the pipeline, a Smart Greenfield Terminal with a storage capacity of 18,900 kiloliters will be constructed at Charaali. The project marks another milestone in boosting petroleum supply and infrastructure in Nepal.<\/p>\n\n\n\n
As part of the broader infrastructure development plan, India will also provide a grant for a 62-kilometer petroleum pipeline from Amlekhgunj to Lothar, Chitwan. A Smart Greenfield Terminal with a capacity of 91,900 kiloliters will be constructed at Lothar by the Nepal Oil Corporation with technical assistance from the Indian government.<\/p>\n\n\n\n
The total cost for these petroleum infrastructure projects is estimated at Rs 15 billion.<\/p>\n\n\n\n
This agreement builds on the initial Memorandum of Understanding (MoU) that was signed during former Nepalese Prime Minister Pushpa Kamal Dahal’s visit to India in May-June 2023, highlighting the continued cooperation between the two neighbors in the energy sector.<\/p>\n","protected":false},"excerpt":{"rendered":"
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