Kathmandu, Oct 3 (PTI) Nepal Oil Corporation and Indian Oil Corporation Thursday signed an agreement for the construction of two new pipeline projects, marking a key milestone in the energy partnership between the two neighbouring countries.
The length of the Siliguri (India) to Jhapa (Nepal) pipeline will be 50 kms, while another pipeline from Amlekhgunj to Lothar of Chitwan will be 62 kms long.
"Marking a key milestone in the India-Nepal energy partnership, #IndianOil signed a B2B Framework Agreement with Nepal Oil Corporation today. This collaboration, in the presence of Secretary, MoP&NG, Pankaj Jain, will enhance energy security and optimise petroleum logistics, particularly for the hilly terrains," the Indian Oil posted on X.
Jain said that Indian Oil's pivotal role in these projects is commendable, and their timely execution will further strengthen ties between India and Nepal.
"Another milestone in #IndiaNepalFriendship! Strengthening petroleum infrastructure, reducing costs, and bolstering supply security for Nepal citizens and the economy under the leadership of PM @narendramodi Ji and his vision of Vasudhaiva Kutumbakam," Union Minister for Petroleum and Natural Gas Hardeep Singh Puri posted on X.
"The Framework Agreement will extend the existing MAPL pipeline till Chitwan, construct a new pipeline from Siliguri to Jhapa, and build two terminals to connect major demand centres at Jhapa and Chitwan in Nepal. A testament to our commitment to a stronger, more resilient partnership. #NeighborhoodFirst," he added.
“Proud to strengthen the India-Nepal energy partnership through this B2B Framework Agreement between #IndianOil and Nepal Oil Corporation.
IOC Chairman V Satish Kumar said this "collaboration builds on the success of the Motihari-Amlekhgunj pipeline and paves the way for seamless energy connectivity, enhancing energy security for both nations".
"Indian Oil remains committed to timely execution of these projects and fostering a stronger bilateral relationship,” he wrote on X.
Executive Director of Nepal Oil Corporation Chandika Bhatta and Director of IOC Senthal Kumar inked the two agreements. Pankaj Jain, Secretary, the Ministry of Petroleum and Natural Gas, India and V Satish Kumar, chairman, IOC were present during the signing in ceremony.