India plans to build a 2.5M tonne oil storage facility in Padur, Karnataka, under a public-private partnership model.

India plans to build its first commercial crude oil strategic storage in Padur, Karnataka, under a public-private partnership model. The Indian Strategic Petroleum Reserves Ltd (ISPRL) has invited bids for the construction of a 2.5 million tonnes underground storage facility, which is part of efforts to secure oil reserves against supply disruptions. The project, set to cost Rs 5,514 crore, will see private parties design, build, finance, and operate the storage.

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