Business Daily from THE HINDU group of publications
Sunday, Feb 03, 2008
ePaper | Mobile/PDA Version
Business Daily from THE HINDU group of publications Sunday, Feb 03, 2008 ePaper | Mobile/PDA Version |
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Corporate
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New Business Hind Construction bags crude cavern project Our Bureau Visakhapatnam, Feb. 2 The Union Petroleum Ministry has decided to set up the first underground cavern for crude storage here and the Rs 375.37-crore contract for the project has been awarded to the Mumbai-based Hindustan Construction Company Ltd (HCCL). According to sources, the crude cavern is being set up in the rocky terrain adjoining the Dolphin’s Nose hill at a depth of 85 metres below the mean sea level and the project will take a minimum of three years. It will have a capacity to store up to 1.33 million tonnes of crude and this will be the first time such a cavern is being constructed in the country. The cavern will come up on the other side of the hill, as the LPG cavern is already functioning near the seaside in Lova Garden. The Petroleum Ministry is planning two more caverns for crude in other ports. More Stories on : New Business | Real Estate & Construction
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