Indian Oiltanking's Crude Oil Odyssey Begins in Odisha

Indian Oiltanking Limited (IOL) is spearheading a transformative venture, the Crude Oil Import Terminal in Paradip, Odisha, a colossal project estimated at Rs. 1420 crores. This ambitious initiative aims to redefine India's crude oil import dynamics, enabling larger shipments and fortifying the nation's energy resilience.

Located in Paradip, Jagatsinghpur, Abhayachandapur, Odisha, the project encompasses a deep-sea port capable of handling Very Large Crude Carriers (VLCCs), underground storage tanks totaling 2.5 million metric tonnes, and state-of-the-art pipelines for efficient crude oil transportation to refineries. This project's significance lies in reducing dependence on smaller ports, enhancing strategic reserves, fostering employment, driving economic growth, and positioning India prominently in global oil import markets.

IOL's commitment to technology integration, environmental sustainability, safety measures, and community engagement underscores their vision for the terminal. Anticipated challenges include obtaining regulatory clearances, managing construction logistics in coastal areas, securing funding, and seamless integration with existing infrastructure.

As a prominent provider of petroleum storage and transportation solutions, IOL's Paradip terminal is slated for operation by 2025, poised to significantly impact India's crude oil import landscape, transforming the nation's energy future.

As on December 2023,The project is now in the stage of construction being started. The completion of the project's work has reached the 20% mark. The work on the project will be finished by December of 2025.       

News by Rahul Yelligetti