IndianOil to double petroleum storage capacity

Vol 16, PW 5 (20 Sep 12) News in Brief

IndianOil plans to more than double the capacity of its 10,000 kilolitres petroleum product storage terminal at Balasore in Orissa – some 190-km away from the capital Bhubaneswar.

An additional four tanks are planned: one for petrol (2604 kilolitres) one for kerosene (1810 kilolitres) and two for diesel (total: 7224 kilo litres). IndianOil’s existing Balasore terminal can store 1192 kilolitres of petrol, 3200 kilolitres diesel, 2618 kilolitres kerosene, 3420 kilolitres furnace oil and 40 kilolitres ethanol.

IndianOil wants to construct the four additional tanks within the existing 41-acre terminal complex, located in an industrial area and plans to spend Rs10cr ($20m) to construct the new storage tanks. “We plan to float an EPC tender for this project by the end of this year,” says an IndianOil source.

“Construction should start from April 2013 and we want the new tanks ready within a year.”