Adani Ports, IOC enter into agreement on tank farm expansionIOC - 68 Change: 0.45 (0.67 %)
News: Adani Ports has entered into an agreement with IOC to expand its existing tank farm at Mundra port (incremental 10 MMT). IOCL is increasing its Panipat refinery capacity by 66% to 25 MMT (existing capacity of 15 MMT). The step will support the new capacity.
Views: Adani Ports currently supports part of the existing Panipat facility via its single buoy mooring (SBM), which is 3-4 km long and helps to unload crude from very large crude carriers (VLCC). The undersea pipeline connects with the crude oil tank farms on Mundra port. It is then transported to Panipat refinery via Mundra-Panipat Pipeline (Rs. 9000 crore capex by IOC will support the tank farm and MPPL pipeline expansion).