NRL Signs a Tripartite MoU to Set-Up an Oil Import Terminal in Paradip, Odisha
The tripartite MoU signed between Numaligarh Refinery (subsidiary of Bharat Petroleum Corporation Limited), Paradip Port Trust and Dredging Corporation on Wednesday, has paved way for the development of a terminal for importing crude oil in Paradip, Odisha. The agreement provides room for the reclamation of 200 acres land dispensed to NRL for this mega port project. For the very first time, Dredging Corporation will be utilizing maintenance dredging material for land filling requirements of a terminal outline. Moreover, the terminal will be developed as a part of NRLS’s Integrated Refinery Expansion Project with a due expenditure of INR 220000 Million. As per NRL, the mega project is anticipated to unleash the import barriers as the pipeline will be laid cross-country, setting up a direct route for exportation from Paradip to Numaligarh. The company even assured that the crucial dredging activities will begin from mid-November and will require a period of 7 months for completion of reclamation work. Pre assessment activities of the project were accelerated right after the approval from Environmental Clearance in July.