The pipeline project will link the refinery, a subsidiary of BPCL, in Assam, to its terminal at Siliguri. The pipeline will be used to export the refinery’s products as well as augment its plans to venture into oil retailing. In the agreement, BPCL will pick-up a 50% in the project, while OIL will own 40%. The balance will be held by Numaligarh Refinery Ltd (NRL). The project cost has been estimated at £70.6 million, of which £23.5 million will come as equity and the balance in the form of debt.