India and Nepal on 24 August 2015 signed a Memorandum of Understanding (MoU) for constructing a Petroleum Product Pipeline which will be built from Raxaul in India to Amlekhgunj in Nepal.
The MoU was signed by Dharmendra Pradhan, Union Minister for Petroleum & Natural Gas and Sunil Bahadur Thapa, Minister of Commerce and Supplies of Nepal.
Highlights of the MoU
• As per the MoU, Indian Oil Corporation (IOC) will do reengineering of the Amlekhgunj petroleum depot to make it compatible with receiving petroleum products by pipeline.
• The 41 km pipeline (2 km in India and 39 km in Nepal) will initially supply Petrol, Diesel and Kerosene.
• It will be constructed by Indian Oil Corporation at a cost of 200 crore rupees from its own budget. While, Nepal Oil Corporation will invest 75 crore to develop additional facilities in Amlekhgunj depot.
• It will take IOC 30 months to complete the project after receipt of necessary statutory clearances from Government of Nepal.
The construction of this pipeline will ensure smooth, cost effective and environment friendly supply of petroleum products to Nepal. This would be the first transnational petroleum pipeline in South Asia.
Now get latest Current Affairs on mobile, Download # 1 Current Affairs App
Who: India and Nepal
What: Signed MoU
When: 24 August 2015
DISCLAIMER: JPL and its affiliates shall have no liability for any views, thoughts and comments expressed on this article.