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Numaligarh Refinery Ltd (NRL) has signed an agreement with Nepal based Birat Petroleum Pvt Ltd (BPPL) for sale of Motor Spirit (MS) and High Speed Diesel (HSD).
The agreement was signed between NRL’S General Manager A K Bhattacharya and BPPL’s Director Neeraj Chettri on behalf of the two companies at Kathmandu last week, a NRL press release said here today.
Nepal government had given permission to the NRL for selling MS and HSD to BPPL and the Indian Ministry of Petroleum and Natural Gas had also cleared the proposal.
According to the agreement, NRL was expected to sell around 100 KL of MS and 5000 KL of HSD per month to BPPL.
The actual sale was expected to start in the first quarter of the financial year 2014-15 after BPPL obtains necessary clearance from Government of Nepal for import of MS and HSD based on this agreement.
The NRL’s foray into Nepal markets was a move to generate market for its products in view of proposed expansion of its refining capacity from 3 to 9 million tonnes per annum.
It may be relevant to mention that BPPL has created a storage capacity of 300 KL of MS and 1500 KL of HSD along with Tank Truck loading and unloading facilities at Birat Nagar in Eastern Nepal.
The BPPL will take supply by road from NRL’s Marketing Terminal at Rangapani, Siliguri which is about 30-km from the Indo-Nepal border at Kakarvita.
The total demand of petroleum products in Nepal was around 1 MTPA.
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