Bhubaneswar Buzz

BPCL, HPCL, IOCL to jointly set up oil storage facilities in Odisha


Oil marketing companies- Bharat Petroleum Corporation Ltd (BPCL), Indian Oil Corporation Ltd and Hindustan Petroleum Corporation Ltd have planned to set up two common user facilities for storage of oil in Odisha. The oil companies have intended to set up oil storage facilities at Sambalpur and Meramundali in Dehankanal district at an investment of Rs 270 crore each.

BPCL will take the lead in the project and the projects will be developed on a Capex sharing basis.

The product inputs are likely to be received through IOCL’s Paradip-Ranchi cross country pipeline railway wagons and evacuation will be done through tank lorries.

The facility at Sambalpur will cater to the needs of 10 districts probably in the western part of the state and the Meramundali unit will cater to four districts.

Officials said, the state level facilitation cell (SLFC) considering the proposal of the state before it is put before the State Level Single Window Clearance Authority (SLSWCA) for approval.

More details from SmartInvestor website