Indian Oil Corporation (IOC) has inked a Memorandum of Understanding (MoU) with Nepal Oil Corporation (NOC) in August 25, 2015 for construction of 1.3 MMTPA capacity Raxaul-Amlekhgunj Petroleum product pipeline along with some works at Amlekhganj Petroleum Depot of NOC.
The estimated cost of this project is Rs 275 crore and the completion period is 30 months after receipt of statutory clearances. This pipeline will ensure long term supply of petroleum products to Nepal from IOC as well as stability of supplies from India to Nepal, which will benefit both the countries.
IOC is the largest enterprise in the country and the foremost ranked Fortune Global 500 Company in India and has presence in the complete hydrocarbon value chain from downstream refining & marketing, pipeline transportation, Petrochemicals, E&P and Gas Marketing.