January 11, 2018 [The New Indian Express] - The Indian Oil Corporation's (IOC) Multi-user Liquid Terminal (MULT), which forms part of the `715-crore LPG Import Terminal Project being implemented by the public sector oil giant at Puthuvype, is nearing completion.
The LPG Import Terminal Project has two parts – MULT (jetty) and the storage terminal at Puthuvype. The construction of the storage terminal at Puthuvype has been in limbo since February 2017 due to protests from certain environmental groups.
The total cost of the jetty, which is coming up about 3 km further to the storage terminal site, is `225 crore, including `183 crore for the construction of the jetty and `42 crore towards dredging. The IOC has entrusted the construction of jetty with the Cochin Port Trust.
The construction work of the MULT commenced in February 2016, with a completion target of 24 months. As per IOC’s plan, the construction of the jetty and the storage terminal is to be synchronised so that one facility will not become idle for want of the other. Though the jetty is a part of the LPG import terminal, the protestors have not obstructed its work.
“The work on the jetty is nearing completion and it will be ready by March 2018. The dredging work can only be done just before commissioning as otherwise, the required draft will not be available due to siltation of the basin,” an officer said.
The IOC has invested `183 crore for the jetty and the facility will be lying idling since the storage terminal will not be ready by then owing to the ongoing strike at the storage terminal site. Since the dredging work has to be deferred, there will be cost overrun.
The MULT jetty will be used not only for unloading LPG, but also for loading/unloading of other petroleum products, including crude oil, diesel and petrol. The capacity of MULT is 4.52 million tonnes per year, including LPG.
The annual revenue earnings expected from MULT after commissioning is `50 crore, which will help the Cochin Port. MULT is an additional infrastructure that will be available at the Cochin Port and has a huge potential for future development of the port.
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