Adani and Indian Oil are to build on their relationship at Mundra
Adani Ports and Special Economic Zone (APSEZ) has signed an agreement with Indian Oil Corp Ltd (IOCL) to boost crude oil volumes at Mundra port. IOCL will expand its existing crude oil tank farm enabling it to handle and blend an additional 10 million tonnes of crude oil a year at Mundra. This will support IOCL’s expansion of its Panipat Refinery where it is raising capacity by 66%, to 25 million tonnes annually, to meet India’s rapidly growing energy requirements.
IOCL is currently operating a crude oil tank farm in an exclusive area in Adani’s Mundra Special Economic Zone, consisting of 12 tanks with a total capacity of 720,000 kilo litres. The addition of nine new tanks will boost the storage capacity to 1,260,000 kilo litres, thereby making Mundra Port by far the largest port-based crude oil storage facility for IOCL. This will be accompanied by an increase of the local pipeline capacity by IOCL.
