A Memorandum of Understanding, MoU, was signed between the Indian Oil Corporation and the Department of Trade this morning to assure uninterrupted supply of petroleum products to Bhutan. The MoU was first signed in 2005. The renewed MoU is valid till 2015.
The MoU was signed by the Executive Director of Indian oil, Indrajit Bose, and the Director General of the Ministry of Economic Affairs, Sonam P. Wangdi. The Director General said the MoU would help in setting up the retail outlets in Bhutan.
According to the Indrajit Bose, the understanding has helped them in leveling their investment process in Bhutan. He also said they would assist the department in providing trainings to the people on safety and operational aspects. It would also help Bhutan in setting up regulatory mechanism. The Indian Oil has been marketing petroleum products to Bhutan since 1972.
