IOCL and Nepal Oil Corporation have signed B2B framework agreements to develop petroleum infrastructure in Nepal.

MOUs and Agreement

On October 3, 2024, Indian Oil Corporation Limited (IOCL) and Nepal Oil Corporation (NOC) signed a Business-to-Business (B2B) Framework Agreement to develop petroleum infrastructure in Nepal, with a total investment of around ₹15 billion.


      - A 50-kilometer petroleum pipeline will be built from Siliguri (India) to Charali (Jhapa, Nepal).

      - A state-of-the-art terminal will be established in Charali to improve storage and distribution capabilities in that region.

      - Additionally, a 62-kilometer pipeline will connect Amlekhgunj to Lothar in Chitwan, Nepal.

Main Points:-   (i) A modern terminal with a storage capacity of 91,900 kiloliters will be developed at Lothar.

      (ii) he agreement was signed by Dr. Chandika Prasad Bhatta (Executive Director of NOC) and Senthil Kumar (Director of IOCL) in New Delhi, in the presence of senior officials, including Pankaj Jain (Secretary, Ministry of Petroleum and Natural Gas, India) and V. Satish Kumar (Chairman of IOCL).

(iii) This collaboration is based on a Government-to-Government (G2G) Memorandum of Understanding (MoU) signed in May 2023 between India's Ministry of Petroleum and Natural Gas (MoP&NG) and Nepal's Ministry of Industry, Commerce and Supplies.
About Indian Oil Corporation Limited (IOCL)

Chairman: Satish Kumar Vaduguri
Headquarters: New Delhi
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