NOC team visiting Mumbai to discuss petroleum pipeline
Nepal Oil Corporation (NOC) and Indian Oil Corporation (IOC) is holding second round of talks on petroleum pipeline from Wednesday.
A six-member NOC team – led by NOC managing director Chandika Prasad Bhatta – is leaving for Mumbai on Tuesday to hold discussion on construction of 41-km Amlekhgunj-Raxaul petroleum pipeline.
The two-day meeting is expected to discuss financial, commercial and technical parts of the proposed cross-border pipeline. The project is expected to cost Rs 2 billion.
Last Thursday, NOC and IOC – during the first-round meeting at Amlekhgunj – had agreed to acquire land and pay compensation, informed chief of NOC’s Amlekhgunj depot Bhanu Khanal.
It is expected that the Indian government will construct the project as a gift to Nepal. "The detail engineering and surveys will begin after funding matters are finalized," he added.
Indian Prime Minister Narendra Modi – during his visit on August 3-4 – had pledged to expedite the project.
The 41-km cross-border pipeline will pass through 25-km of farmland and 16-km of forest.
The 20-year long pipe dream is expected to become reality in six months after it gets started.
The cross border petroleum pipeline is expected to reduce transportation cost by 40 per cent to 50 percent, control leakage and ensure hassle-free transfer and quality of petroleum products.