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Posts Tagged ‘IOT Infrastructure & Energy Services’

IOT to develop crude oil terminal at Paradip

December 31, 2009 3 comments

A consortium of IOT Infrastructure & Energy Services (IOT) and Oiltanking GmbH, Germany, (OT) has bagged an order for development of crude/product tankages facilities at Paradip refinery project in Orissa on BOOT basis by Indian Oil Corporation (IOC). The total project cost is estimated at around Rs 3,000 crore.

IVRCL Infrastructures & Projects is expected to be the JV partner in the SPV called IOT Utkal Energy Services, which has been set up for the implementation of the project.

IOT/OT is to have an equity stake of 62.5 per cent in the SPV and IVRCL through its subsidiary will get 37.5 per cent stake.

The project involves installation, operation and maintenance of nearly 1.4 million tankages for crude oil, petroleum products, LPG and sulphur and associated facilities at Paradip refinery which is expected to go on-stream, during 2012. The concession period is to be 15 years after commissioning.

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IOC to develop Paradip Refinery on BOOT basis

December 11, 2009 1 comment

Indian Oil Corporation (IOC) has decided to take up BOOT model for setting up its Paradip refinery in Orissa and has therefore decreased the cost of the Rs 29,777-crore project by around Rs 5,000 crore.

IOC has outsourced work for its nitrogen and hydrogen units, crude and product tankages and water line to different companies.

IOC is setting up a 15-million tonne refinery which is expected to go on-stream by end-2012.

The nitrogen and hydrogen units are being constructed by US based Praxair. The company is to build a hydrogen plant with a capacity of 90 million standard cubic ft a day and a nitrogen plant of 500 tpd capacity.

The crude and product tankages are likely to be constructed by IOT Infrastructure & Energy Services, a JV company of IOC and Oiltanking GmbH. These companies will operate the units for 15 years.

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