The state government, on Sunday, signed a MoU with IOT Infrastructure and Energy Services (IOT) to set up a Rs500 crore petroleum terminal in Borkhedi, around 40km from the city.
The proposed plan envisions a mega inland terminal by 2020 that will stock petroleum products of state-owned Indian Oil Corporation (IOC) and Hindustan Petroleum Corporation (HPCL).
Rajesh G, President, Terminalling, IOT said, “The project would indeed provide a much needed fillip to the ever-increasing energy demands of eastern Vidarbha, and the benefits of our state-of-the art technology would benefit our customers with enhanced safety and efficiency.”
IOT is a joint venture between IOC and Oiltanking GmbH (Germany), one of the world’s leading independent tank terminalling companies.
Upon completion, Nagpur can stake claim to be the only second such facility in the country, after Raipur, as it will stock petroleum product for more than one company.
Rajesh said, “The project challenges the established norm that oil terminals are captive assets serving only their parent company. The new terminal would be an ‘Inland Common User Terminal’, storing petroleum products for IOC and HPCL.” He added that the current terminals of these companies, located at Khapri, if relocated, could also benefit development plans for the Railways and Multi-modal International Hub Airport at Nagpur (MIHAN).
The proposed terminal would provide services to the two state oil companies th its throughput capacity of 1.4 million kilolitres. Fuel would be supplied at the terminal through tank wagons by railway and be distributed through tank trucks to the districts of Nagpur, Bhandara, Gondia, Gadchiroli and parts of Wardha. As on date, IOT is operating 15 terminals in India through various business models
The MoU was signed at the Magnetic Maharashtra conference at Mumbai, which was held to attract investments in state. Read More
Latest posts by ET Energy World (see all)
- India Will Register Highest GDP, Energy Growth Among Nations Through 2040: OPEC - September 24, 2018
- Punjab govt approves 4,000 MW thermal plant at Rupnagar - September 22, 2018
- Power prices could raise uncertainty over Polish rates in 2020: Zubelewicz - September 22, 2018