Indian Oil Corporation Selects EPC Contractor for Korba Terminal

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Researched by Industrial Info Resources India (Delhi, India)--State-owned Indian Oil Corporation Limited (IOCL) (BSE: 530965) (New Delhi) has selected Expo Gas Containers Limited (EGCL) (BSE: 526614) (Mumbai) as the Engineering, Procurement, Construction (EPC) contractor for construction of Floating Roof and Fixed Roof Tanks at its Petroleum Oil Lubricants (POL) Terminal at Korba in Chhattisgarh state.

According to IOCL, EGCL has been selected for the contract through domestic competitive bidding process. The Korba Terminal project involves setting up of facilities such as Automated Tank Truck loading facility, Tank Wagon loading and receipt facility, tankages for products including High Speed Diesel (HSD), Superior Kerosene Oil (SKO), Motor Spirit (MS), Ethanol and Furnace Oil (FO). The storage capacity of the terminal will be 55,209 kilolitres. The cost of the project is expected to be $28 million.

Due to be commissioned by the second quarter of 2015, the terminal will receive the supply of petroleum products via Paradip-Raipur-Ranchi refined products pipeline. IOCL is also coming up with a terminal at Khunti in the state of Jharkhand.

Indian Oil is in the process of expanding its Petroleum Products Marketing network in the country by setting up new grassroot terminals, expanding its existing plants and by laying new Refined Products Pipelines. Other companies like Hindustan Petroleum and Bharat Petroleum are also planning to lay new pipelines and expand their existing Storage and Bottling plants in different parts of the countries. Currently Indian Oil is has 89 LPG Bottling Plants, 140 POL Depots and Terminals and 10 Refineries in India.

Expo Gas Containers, is an integrated Engineering and Construction Company serving Oil & Gas, Refinery, Power, Fertilizer, Chemicals and Petrochemicals industries.

Indian Oil and its subsidiaries account for a 47% share in the petroleum products market, 34.8% share in refining capacity and 67% downstream sector pipelines capacity in India. Indian Oil product range covers petrol, diesel, LPG, auto LPG, aviation turbine fuel, lubricants, naphtha, bitumen, paraffin, kerosene etc.

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