Business Standard
Friday, Feb 17, 2012
drived banner
drived banner
  Advanced Search
RSS
Content Guide
Follow us on  
||Companies & Industry||||||| 
 Section Home | News Now | Today's Paper | Q&A | People in the News | Industry News | Features | The Compass | Research & Analysis | Opinion | Corporate Results
Home > Companies & Industry Live Markets | Commodities
 

Second oil berth worth Rs 172 crore at Paradip soon
BS Reporter / Kolkata/ Bhubaneswar Nov 27, 2009, 00:26 IST

Union Minister for Shipping, G K Vasan today laid the foundation stone for a 10 million tonne oil berth of the Indian Oil Corporation (IOCL) at Paradip port. The new oil berth is estimated to cost Rs 172.97 crore.

This will be the second oil berth in the port premises. The existing one has a capacity of 6 million tonne.

Sources said, the need to have a second oil berth arises out of the proposed plan of IOCL to build a 15 million tonne oil refinery at Paradip. The refinery project is scheduled to go on stream in 2012.

The existing oil berth will not be adequate to cater to the needs of the refinery. To meet the additional demand of handling of crude and POL products of IOCL, a second oil berth was required, they reasoned.

The Union minister also inaugurated a RO-RO Jetty for the use of Coast Guard and IOCL at Paradip Port.

The length of the jetty is 243 metres, which can accommodate both Coast Guard and IOCL vessels at a time and also can operate as two separate jetties, if required.

IOCL has already commissioned one Single Point Mooring at Paradip for pumping of crude oil to their refinery at Barunei and Haladia through pipeline. For this operation, the company required a jetty at Paradip. Similarly, in view of the present security scenario, a separate jetty was felt essential for Coast Guard vessels for quick berthing and sailing off.

Paradip Port has been handling considerable quantity of Project Cargo in the last couple of years. These Project Cargoes are handled in the existing berths. The need of a separate jetty for handling Project Cargo to reduce the waiting time was long felt. The new RO-RO jetty will meet these needs, thereby facilitating other berths to handle more general cargo.

During his visit, Vasan reviewed the operations of the Paradip port. K Raghuramaiah, chairman, Paradip Port Trust (PPT) apprised the Union minister on the steps taken by PPT to rescue the crew members of Black Rose, a Mongolian ship, which sank near the part on September 9. He also informed the minister on the measures taken to combat pollution arising out of the oil leakage from the vessel. Vasan appreciated the timely action of the PPT authorities to rescue the crew members of Black Rose and also its efforts to retrieve oil from the sunken vessel.

The PPT chairman gave a presentation to the minister on growth of traffic of the port, the recently completed projects, status of ongoing projects and future plans of the port.

Besides, Raghuramaiah apprised the minister on the signing of concession agreements with the BOT (build, operate and transfer) operators for the development of iron ore and coal berths.

On completion of the ongoing projects, the port capacity is expected to increase to 134 million tonnes by March 2012. Biplav Kumar, deputy chairman, PPT and other officials of the port trust were present on the occasion.

New Ipad Application :Business Standard's all new IPad App
Click here to download for free
Arrow Other Stories     
- Markets glued to gains
- World stocks firm on Greek hopes, dollar up on data
- Copper recovers on global cues, up 0.4%
- Lead up 0.5% on global cues, spot demand
- China's new system to improve economic data accuracy
  Read Business news in 
- Now property search gets more exciting than ever before!
- High Growth Business Opportunities in Africa - Register to explore
- Medium-sized businesses are the engines of a smarter planet.
- Save over Rs.3000 with IndianOil Citibank Card
- India's No. 1 Property Site. Click here to know more..
- Get 5% cashback on telephone bills with Citi
- Diseases earlier, Saving Costs, Extending Lives. Know More..
- Enjoy the journey as much as the destination. click to know more..
- Exim Bank Conclave on India - Africa Project Partnership. Know more..
- Creating Wealth made simple the SIP way. Know more..
- Only Developer to give a guarantee on time space & rate.
- Office 365 for professionals and small businesses.
- Buy Your Property with Our Triple Guarantee in India.
- Improve Patient Care & Experience. Click here to know more
- Win a Business Class Ticket to Europe..Know more..
-  Introduce a New Automotive Luxury Car.. know more
- We live for our family. have you secured them?
Sorry, comments to this story are closed
Latest Messages
SmartInvestor+ E-zine
  Pay Rs.747/- for 3 years and
  get a branded watch FREE

  Subscribe Now
Most Popular
Read
E-Mailed
Commented
   
- Marico: Stepping into unchartered territory
- Army to step up vigil in Uttarakhand
- MCX IPO to make staff millionaires
- Sonalde Desai: Sons of the soil
- Asian stocks fall as Greek bailout delay dampens mood
 
 More  
BUSINESS STANDARD INDIA 2012
  Now available at Special price
  Rs.395/- Only
  Buy Now
  Now available on the Kindle Store...
  BS Specials  
    Full coverage of elections in Uttar Pradesh, Punjab, Uttarakhand, Manipur and Goa
 
  Member Area Write to the Editor RSS Archives Advanced Search
  Subscribe to BS print product BS e-paper Newsletter Portfolio Tracker
  BS Products BS Hindi BS Motoring BS Books
FOR HOT PRODUCTS
BS Bazaar.com
Home | Markets & Investing | Companies & Industry | Banking & Finance | Economy & Policy | Opinion
Life & Leisure | Management & Marketing | Tech World
About Us | Partner With Us | Code of Conduct | Careers | Advertise with us| Terms & Conditions | Disclaimer | Contact Us