(EnergyAsia, April 26, Thurday) — An Indian subsidiary of Germany’s Oiltanking group and the local Adani group will jointly develop and operate an oil storage terminal in the port of Mundra in the northwestern Indian province of Gujarat.


The proposed 342,000 cubic metre oil products terminal will cater to companies involved in the refining and trading of oil products, biofuels, vegetable oils and liquid chemicals.


The equal joint venture, Mundra Indian Oiltanking Ltd (MIOL), will operate as an independent liquid storage provider.


Oiltanking, the world’s second largest independent tank storage operator for oil products, chemicals and gases, operates 73 terminals in 21 countries.