IOCL Paradeep Tankages
A Booming Port- Promising Vibrant Prosperity to Eastern India
Port of Paradip is the primary seaport in the Indian state of Orissa. Paradip port handled 33,109,000 tonnes of cargo in 2005-2006, out of which 12,529,000 tonnes was thermal coal and 10,273,000 i was iron ore. Located on the Bay of Bengal it is an artificial harbour which accepts sea traffic via man made lagoons. Paradip is emerging as a major investment in India with several upcoming steel plants including a gigantic $12 billion plant by POSCO, alumina refineries, thermal power plants, and a petrochemical complex. Paradip will become one of the six major petroleum, chemicals and petrochemical investment regions (PCPIRs) planned in India, along the lines of Pudong in China, Rotterdam in Europe and Houston in North America, accelerating the transformation of the state of Orissa into one of the major manufacturing and commercial regions of the world within 10 years. The PCPIR at Paradip is planned with an initial investment of US $68.84 billion, including the setting up of a refinery cum petrochemical complex over 284 km of land.
Indian Oil is a pioneer and a leader in setting up cross-country pipeline networks preferred as a cost-effective, energy-efficient, safe and environment-friendly mode for transportation of crude oil and petroleum products. IOCL is setting up a 15 MTPA grass root refinery at Paradip. For meeting storage and handling requirements of crude oil finished products for the refinery complex, IOCL proposes to install a crude oil and finished product storage and handling facilities in the refinery complex on Build Own-Operate and Transfer (BOOT) basis. IOCL has selected the consortium led by IOT Infrastructure and energy Services Limited (IOT) along with Oil tanking GMBH (OT) Germany for setting up the project. The consortium has roped in IVRCL as a Co-sponsor for the project, considering their expertise in Civil and infrastructure related projects. The consortium will be setting up the project though IOT Utkal Energy Services Limited (IOTUL) which will implement the BOOT project. IVRCL holds Equity in this company.
With the commissioning of this landmark pipeline, the total network of Indian Oil’s crude oil and petroleum product pipelines has now touched the magic figure of over 10,000 km. Now, the Paradip port which was so far known for handling iron ore cargoes will become the largest crude oil handling facility on the east coast of India.
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