India and Nepal sign B2B agreement to enhance petroleum infrastructure
ECONOMY & POLICY

India and Nepal sign B2B agreement to enhance petroleum infrastructure

In a significant advancement for the India-Nepal energy partnership, the Indian Oil Corporation (IOC) signed a business-to-business (B2B) framework agreement with the Nepal Oil Corporation (NOC). This collaboration aims to improve energy security and optimise petroleum logistics, particularly in challenging hilly terrains.

Pankaj Jain, Secretary of the Ministry of Petroleum and Natural Gas, emphasised the importance of IndianOil’s role in these projects, noting that their timely execution will further strengthen bilateral relations.

Union Minister for Petroleum and Natural Gas, Hardeep Singh Puri, highlighted on X that this partnership will enhance petroleum infrastructure, reduce costs, and bolster supply security for the citizens and economy of Nepal, aligning with Prime Minister Narendra Modi’s vision of Vasudhaiva Kutumbakam.

The framework agreement includes plans to extend the existing petroleum pipeline to Chitwan, construct a new pipeline from Siliguri to Jhapa, and build two terminals to connect key demand centers in Jhapa and Chitwan, underscoring a commitment to a robust partnership.

Earlier this month, Minister Puri recognised IOC's substantial contributions and wished the organisation continued success. He praised IOC's efforts in shielding Indian citizens from global fuel price hikes over the past three years, affirming the dedication of nearly 30,000 IOC employees and their extended workforce in propelling India toward becoming the third-largest economy. (ET)

In a significant advancement for the India-Nepal energy partnership, the Indian Oil Corporation (IOC) signed a business-to-business (B2B) framework agreement with the Nepal Oil Corporation (NOC). This collaboration aims to improve energy security and optimise petroleum logistics, particularly in challenging hilly terrains. Pankaj Jain, Secretary of the Ministry of Petroleum and Natural Gas, emphasised the importance of IndianOil’s role in these projects, noting that their timely execution will further strengthen bilateral relations. Union Minister for Petroleum and Natural Gas, Hardeep Singh Puri, highlighted on X that this partnership will enhance petroleum infrastructure, reduce costs, and bolster supply security for the citizens and economy of Nepal, aligning with Prime Minister Narendra Modi’s vision of Vasudhaiva Kutumbakam. The framework agreement includes plans to extend the existing petroleum pipeline to Chitwan, construct a new pipeline from Siliguri to Jhapa, and build two terminals to connect key demand centers in Jhapa and Chitwan, underscoring a commitment to a robust partnership. Earlier this month, Minister Puri recognised IOC's substantial contributions and wished the organisation continued success. He praised IOC's efforts in shielding Indian citizens from global fuel price hikes over the past three years, affirming the dedication of nearly 30,000 IOC employees and their extended workforce in propelling India toward becoming the third-largest economy. (ET)

Next Story
Infrastructure Energy

REC Transfers HVDC Project to Power Grid

REC Limited has successfully handed over the Special Purpose Vehicle (SPV) for a High-Voltage Direct Current (HVDC) transmission project to Power Grid Corporation of India Limited (PGCIL). This strategic move aligns with the nation's objectives to strengthen its power transmission network. Key Highlights: Project Overview: The HVDC project, under the inter-state transmission system (ISTS) initiative, is a critical component of India's push toward robust and efficient electricity transmission. It aims to handle bulk power transfer across long distances while ensuring minimal losses. Role of RE..

Next Story
Infrastructure Transport

NF Railway Collaborates with IIT Guwahati

The Northeast Frontier (NF) Railway has signed strategic Memorandums of Understanding (MoUs) with IIT Guwahati to foster technological advancements and improve railway operations in the region. This partnership focuses on innovative solutions to enhance safety, efficiency, and sustainability in rail infrastructure. Key Highlights: Purpose of MoUs: The collaboration aims to leverage IIT Guwahati's expertise in technology and research for implementing cutting-edge solutions across railway operations. Key areas of focus include: Automation and digitization in maintenance. Sustainability initiati..

Next Story
Infrastructure Transport

Danapur Division Modernization Plans Revealed

The Railway Board has unveiled ambitious plans for the expansion and modernization of the Danapur Division, a critical hub under the East Central Railway. The initiative focuses on infrastructure development, enhanced passenger amenities, and operational efficiency. Key Highlights: Scope of Modernization: The Railway Board's blueprint emphasizes: Upgrading existing infrastructure to accommodate more passenger and freight traffic. Improving station facilities, such as platforms, waiting areas, and connectivity. Introducing advanced signal systems for safer and smoother operations. Freig..

Hi There!

"Now get regular updates from CW Magazine on WhatsApp!

Join the CW WhatsApp channel for the latest news, industry events, expert insights, and project updates from the construction and infrastructure industry.

Click the link below to join"

+91 81086 03000