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New Rs 5000 crore greenfield crude oil storage project: PMC by May, 2018
Feb 27: 8Project Name: Greenfield Crude Oil Strategic Storage
8Project Cost: Rs 5000 crore
8Project Description: Indian Strategic Petroleum Reserves Limited a subsidiary of Oil Industry Development Board has proposed to set up 4.4 MMT crude oil strategic storage facility. The project proposes to construct underground rock caverns over an estimated time frame of 64 months. A consultant has already prepared the DFR for the project. The clearance for the project is awaited from Petroleum ministry's end which is expected in a month or two. Further RFQs are expected shortly.
8Project Event: RFQs for hiring PMC contractor for the project is expected by May 2018.
8Expenditure Approval: Jan/2016
8RFQ Date: May/2018
8Release Date: Jun/2018
8Start Date: Q4/2019
8Completion Date: Sep/2025
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