NOC, IOC pipeline deal to counter Tarai blockades
KATHMANDU: Nepal Oil Corporation (NOC) and Indian Oil Corporation (IOC)have agreed to build a 41-km oil pipeline between Raxual of India and Amlekhgunj of Nepal. A joint meeting of NOC and IOC officials here yesterday took the decision. The two corporations are preparing the model of the pipeline to facilitate oil supply to Nepal which has been facing petroleum products shortage due to the frequent Tarai bandhs and other strikes since last year. IOC and NOC agreed to invest 70 per cent and 30 per cent respectivley of the total Rs 3 billion investment. Both parties agreed to conduct a feasibility study of the pipeline soon. Earlier, India had proposed the pipeline scheme in 1995.