Indian Oil and Nepal Oil ink landmark B2B framework agreement
- In Reports
- 06:49 PM, Oct 05, 2024
- Myind Staff
Nepal Oil Corporation and Indian Oil Corp signed a deal on Thursday to build two new pipelines, strengthening the energy partnership between the two neighbouring countries. One pipeline will run 50 kilometres from Siliguri in India to Jhapa in Nepal, while the other will stretch 62 kilometres from Amlekhgunj to Lothar in Chitwan, Nepal.
Indian Oil took to X to spread the information as it said, "Marking a key milestone in the India-Nepal energy partnership, #IndianOil signed a B2B Framework Agreement with Nepal Oil Corp. 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.” According to Jain, Indian Oil has played a significant role in these projects, which is praiseworthy, and their prompt completion will improve relations between India and Nepal.
Hardeep Singh Puri, the Union Minister of Petroleum and Natural Gas, posted on X, writing, "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.”
He further added, “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. #NeighbourhoodFirst.”
“Proud to strengthen the India-Nepal energy partnership through this B2B Framework Agreement between #IndianOil and Nepal Oil Corp. V Satish Kumar, chairman of the IOC, stated that 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". He wrote on X, “Indian Oil remains committed to timely execution of these projects and fostering a stronger bilateral relationship.”
The two agreements were signed by Senthal Kumar, the director of IOC, and Chandika Bhatta, the executive director of Nepal Oil Corporation. During the signing ceremony, Pankaj Jain, Secretary of the Indian Ministry of Petroleum and Natural Gas, and V Satish Kumar, Chairman of the Indian Oil Company, marked their presence.
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