OIL signs MoU with BPCL, NRL for cross-country pipeline

OIL has signed an MoU with Bharat Petroleum Corporation Limited (BPCL) and NRL for the setting up of a cross-country petroleum product pipeline from Siliguri to Mughalsarai via Muzaffarpur and the augmentation of Depo infrastructure. The estimated cost of the project is Rs 35 billion. As per the agreement, the project will be jointly owned by the three firms, with BPCL holding 50 per cent, and OIL and NRL holding 25 per cent ownership each.