Nepal's PM Oli to visit China and seal the deal of oil storage depots
Nepal's PM Oli to visit China and seal the deal of oil storage depots
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According to sources, a treat is about to be signed regarding the project on building oil storage depots at three locations in Nepal which shall be aided by China. The Prime Minister of Nepal, KP Oli is soon to visit China in the coming week. Hence according to the officials at the Ministry of Industry, Commerce and Supplies, KP Oli might fix the deal. According to the treaty, the oil storage depots shall have a combined capacity of 110,000kl and are being assumed to be planted at Bhairahawa, Gorkha bordering Anbukhaireni of Tanahun, and the Battar area of Nuwakot. As quoted by the Kathmandu Post, a senior officer said, "The storage facility for aviation fuel will have the capacity of 10,000kl while the other two deposits contain 50,000kl each." The building of oil storage facilities being aided by China is a part of executing the pact that has been discussed between the two countries in March 2016 during Oli's visit to China after he held the responsibilities of the office as Nepal's Prime Minister. The venture is being expected to be completed by mid-2019. The site for the same purpose has been decided and discussed. The present managing director of the Nepal Oil Corporation (NOC) Sushil Bhattarai, asserted that the facilities provided are a part of the NOC's plan to store fuel for a period of 90 days at least. Oli is being speculated to leave for China on June 19 for a five-day long official visit.

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