Indian Oil and Nepal Oil Corp will also form a joint venture to market fuel in Nepal, said Pradhan, after Indian Oil and Nepal Oil signed a fuel supply agreement on Monday.
The new agreement was signed in the presence of Dharmendra Pradhan and Deepak Bohara, Minister for Supplies in the government of Nepal. Indian Oil has agreed to supply petrol, diesel, kerosene, jet fuel and cooking gas to Nepal for the next five years, beginning April 1. "The new agreement has been made with the concept of “Umbrella Agreement” by keeping provisions of future MoU Agreement subsidiary to this. Provision for collaboration in new fields like Engineering Projects, Aviation, Retail, Petrochemicals, Business Developments, LPG ventures has also been kept," a statement from Indian Oil Corp said. PW270318