(T.E.T)
Adani Ports and Special Economic Zone Ltd (APSEZ) has signed an agreement with Indian Oil Corp Ltd (IOCL) towards augmentation of IOC’s crude oil volumes at the Mundra port. The state-run refiner shall expand its existing crude oil tank farm at APSEZ’s Mundra Port, thus enabling it to handle and blend an additional 10 million metric tons crude oil per annum at Mundra.
This will support IOCL’s expansion of its Panipat Refinery (Haryana). IOCL is raising the capacity at its Panipat Refinery by 66% to 25 MMPTA. “As IOCL’s trusted long-term partner, APSEZ is well equipped to handle the additional 10 MMTPA crude oil at our existing single buoy mooring (SBM) at Mundra.” said Karan Adani, CEO and Whole Time Director of APSEZ. This shall be accompanied by the augmentation of the MPPL pipeline capacity by IOCL to 17.5 MMTPA. IOCL’s board had approved a capital expenditure of Rs 9,000 crore for the crude oil tanks and MPPL augmentation in December 2021.
