Govt approved commercial-cum-strategic facilities in July’21
The Request for Proposal for building two more underground storage facilities by the Indian Strategic Petroleum Reserve Ltd (ISPRL) is being finalised, Minister of State for Petroleum and Natural Gas Rameswar Teli said in a written reply to the Lok Sabha on 26 July 2021.
ISPRL has received Rs.210 crore for land acquisition which was allocated in the budget of FY 2020-21 under Phase II.
The Government has approved in July 2021 for establishing two additional commercial-cum-strategic facilities with storing 6.5 MMT of oil in underground storage facilities at Chandikhol (4 MMT) and Padur (2.5 MMT) in Private Public Partnership mode.
Under Phase I of strategic petroleum reserves (SPR) programme, ISPRL has established petroleum storage facilities with total capacity of 5.33 Million Metric Tonnes (MMT) at 3 locations, namely (i) Vishakhapatnam (1.33 MMT), (ii) Mangaluru (1.5 MMT) and (iii) Padur (2.5 MMT). All these storage facilities have been filled with crude oil, he said.
The petroleum reserves established under Phase I are strategic in nature and the crude oil stored in these reserves will be used during an oil shortage event, as and when declared so by Government of India. #investment #energy #manufacturing /fiinews.com
