Odisha to Get India’s Largest Strategic Petroleum Reserve
India’s largest strategic petroleum reserve is set to come up at Chandikhol in the Jajpur district of Odisha. This decision comes after a meeting between the Secretary of Petroleum and Natural Gas Ministry, Tarun Kapoor, Odisha’s Chief Secretary, SC Mohapatra, and other officials of PSU oil marketing companies in Bhubaneswar.
A strategic petroleum reserve could help reduce the impact of disruptions in the supplies of petroleum products during times of emergencies, allowing the activities dependent on the source to continue. The Indian Oil Strategic Petroleum Reserve Limited (ISRPL) is tasked to set up this international standard reserve.
The Odisha government has given full assurance and support in setting up this strategic petroleum reserve. Kapoor has informed that the Oil and Gas Regulatory Authority is planning to invest Rs 2,13,209 crores across 69 projects in the state.
As per the plan, the reserve is likely to be an underground facility spread across 400 acres. Presently, Kapoor is on a visit to Odisha, announcing an array of projects to be taken up in the State including the capacity expansion of the Indian Oil Corporation Limited (IOCL) from the present 15 MTPA (Million Tonnes Per Annum) to 25 MTPA.
The IOCL has also proposed to establish 200 bio-gas plants in the State. The Petroleum Ministry has plans to invest Rs 92.556 crore across 10 big projects in the State. A new LPG import facility will be made operational at Paradeep on May 21. Apart from these, two LPG plants are being constructed at Rayagada and Khordha. Indian Oil is constructing a petrol, oil, and lubricant terminal at Berhampur. Meanwhile, BPCL has been working on two similar projects at Sadashibpur and Jharsuguda.