Adani Ports & Special Economic Zone (APSEZ) has signed an agreement with Indian Oil Corporation (IOCL) for augmentation of IOCL’s crude oil tank farm at Mundra. IOCL shall expand its existing crude oil tank farm at APSEZ’s Mundra Port, thus enabling it to handle and blend additional 10 million tpa crude oil at Mundra. This will support IOCL’s expansion of its Panipat Refinery capacity by 66 per cent to 25 million tpa to meet India’s rapidly growing energy requirements.
IOCL is currently operating a crude oil tank farm in an exclusive area in Mundra SEZ, consisting of 12 tanks with a total capacity of 720,000 KL. The addition of 9 new tanks will augment the storage capacity to 12,60,000 KL, thus making Mundra Port by far the largest port based crude oil storage facility for IOCL. This shall be accompanied by augmentation of the Mundra-Panipat pipeline (MPPL) capacity by IOCL to 17.5 million tpa. IOCL Board had approved a capital expenditure of Rs 9,000 crore for the crude oil tanks and MPPL augmentation in December 2021.