IOC to add 9 crude oil tanks to Adani's Mundra port

New Delhi: Indian Oil Corporation (IOC), the nation's largest oil firm, will build nine more storage tanks to stock additional 10 million tonnes of crude oil at Adani group-operated Mundra port in Gujarat.

"Adani Ports and Special Economic Zone (APSEZ) has signed an agreement with IOC towards augmentation of IOC's crude oil volumes at Mundra," the Adani group firm said in a statement. IOC will expand its existing crude oil tank farm at APSEZ's Mundra Port, thus enabling it to handle and blend additional 10 million tonnes of crude oil at Mundra.

"This will support IOC's expansion of its Panipat refinery in Haryana," the statement said. IOC is raising the capacity at its Panipat refinery to 25 million tonnes per annum from the current 15 million tonnes to meet India's rapidly growing energy requirements.