The project involves installation, operation & maintenance of approx. 1.4 million kilolitres of tankages for crude oil, petroleum products. LPG and sulphur and associated facilities at Paradip Refinery project in Orissa which is expected to go onstream during 2012. The concession period will be 15 years after commissioning. The total project cost is estimated at around Rs 3000 crore.
IOT/OT will have an equity stake of 62.5% in IOT Utkal Energy Services, and IVRCL through its subsidiary will invest 37.5%. EPC services will be provided by IOT and IVRCL, while operations and maintenance will be undertaken by IOT.
Three companies combine to develop terminal in IOC's Paradip Refinery
12.15.2009 - NEWS
December 15, 2009 [India Infoline] - IVRCL Infrastructures & Projects has announced that IOT Infrastructure & Energy Services (IOT) and Oiltanking GmbH, Germany (OT) has been awarded the concession for development of crude/product tankages facilities at Paradip Refinery project, Paradip, Orissa on build, own, operate and transfer (BOOT) basis by Indian Oil Corporation (IOC). IVRCL Infrastructures & Projects (IVRCL) will be the joint venture partner in the special purpose vehicle, IOT Utkal Energy Services, which has been set up for the implementation of this project.
