India to build two more SPRs

The cabinet has approved the construction of two more strategic petroleum reserves (SPRs) with a total capacity of 6.5 million tonnes (mt) in India. A 4.4 mt SPR will be set up at Chandikhol in Odisha and a 2.5 mt SPR will be set up at Padur in Karnataka. The two SPRs will give an additional supply of about 12 days. The country will approach potential investors for operating the SPRs on a PPP basis. The Abu Dhabi National Oil Company has leased a part of its existing storage at Padur for this purpose.