In a notable development, Indian Strategic Petroleum Reserve Limited (ISPRL) has invited bids for implementation of phase-II of commercial and strategic petroleum reserve (SPR) at Padur, Karnataka. The last date for submission of bids is April 22, 2024. The project involves development and operation of 2.5 million tonnes (mt) SPR including dedicated single point mooring and associated offshore and onshore pipelines at Padur. It will be implemented through public-private partnership mode on design, build, finance, operate and transfer basis entailing an investment of Rs 55.14 billion.
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