No budget allocation for Rs 11,000 crore of oil storage projects but business development mangers must keep their focus on them
Apr 26: The government has allocated little money for Oil Strategic Storage for 2018-19. But allocations are expected to kick in in 2019-20 but for those looking for business, it is time to keep track of these projects. RFQs are going to come in soon for PMC contractors. Here are full details of one such project (details of another was carried earlier by us). 8Project Name: Crude Oil Strategic Storage 8Project Cost: Rs 6000 crore. 8Project Description: Indian Strategic Petroleum Reserves Limited's plans to come out with RFQs has been delayed by 2 to 3 months. At present, the project is in Pre Planning stage. The project proposes to construct underground rock caverns over an estimated time frame of 64 months. EIL has already prepared the DFR for the project. The clearance for the project is still awaited from Petroleum ministry's end. 8Project Event:RFQs for hiring PMC contractor for the project is expected by August 2018 instead of May 2018. 8Expenditure Approval: Jan/2016. 8RFQ Date: Aug/2018. 8Release Date: Sep/2018. 8Date: Q4/2019. 8Completion Date: Sep/2025. Click here for more details, incuding key contacts, geospatial mapping and project configuration.