(EnergyAsia, November 28 2012, Wednesday) — Hindustan Petroleum Corp Ltd (HPCL) has started using its new oil storage terminal in Chennai on India’s east coast while Indian Oil Corp (IOC) expects to complete construction of a new depot in Orissa state by 2014.
HPCL invested 3.3 billion rupees in the new 140,000-cubic metre storage terminal in the surburb of Ennore to replace an old facility in Tondiarpet located near Chennai. (US$1=56 rupees).
The 20 new tanks are equipped with the latest technology to enable the storage, handling and blending of oil products.
IOC said it will be investing 970-million rupees in an inland terminal at Jharsuguda in the eastern state of Orissa to replace ageing tanks in the nearby towns of Sambalpur and Rourkela.
Following a spate of fatal accidents at oil storage tanks, Indian oil companies have been ordered by New Delhi to build new terminals and upgrade their safety practices.