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 Transport

CPCL crosses $10 million revenue milestone

Chaitanya Projects Consultancy (CPCL), a leading infrastructure and engineering consultancy, has surpassed $10 million in annual revenue for FY 2024–25, marking a five-year compound annual growth rate of 28.2 per cent—well above the industry average. Established in 2004, CPCL has delivered over 300 projects across highways, bridges, urban infrastructure, water, transport, and environmental sectors. Its achievements include over 600 km of six-lane highways, 2,000 km of national highways, and 100 major bridges. “Our goal has always been to improve India’s infrastructure,” sai..

Next Story
Resources

KPIL secures new orders worth Rs 37.89 billion

Kalpataru Projects International Ltd (KPIL), a major EPC player in power transmission and civil infrastructure, has secured new orders worth approximately Rs 37.89 billion along with its international subsidiaries. The orders include a significant contract in the Buildings and Factories (B&F) segment in India, marking KPIL’s largest B&F order to date. The project involves the development of over 12 million sq ft of residential space with supporting infrastructure, awarded on a design-build basis. Additionally, the company has won new transmission and distribution (T&D) order..

Next Story
Real Estate

Apartment loading rises to 40 per cent in top cities

Driven by rising demand for premium amenities, the average apartment loading across India’s top seven cities has reached 40 per cent in Q1 2025, up from 31 per cent in 2019, according to ANAROCK Research. The loading factor, or the area paid for beyond the usable carpet area, covers common spaces such as lobbies, staircases, and clubhouses. Mumbai Metropolitan Region (MMR) continues to lead with the highest loading at 43 per cent. Bengaluru saw the sharpest jump, from 30 per cent in 2019 to 41 per cent in Q1 2025. Chennai recorded the lowest average loading at 36 per cent. “Sixty..

Advertisement

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Advertisement

Talk to us?