Paradip: The Paradip Port Trust (PPT) Thursday allotted 200 acres of land on long term lease basis to Numaligarh Refinery Ltd.(NRL) for setting up a crude oil terminal in Paradip. The NRL terminal will enable the oil company to import crude oil at Paradip port to meet its requirement post refinery expansion from 3 to 9 MMTPA.
The PPT and the NRL signed an MoU for the allotment of land the setting up of the terminal was signed at Bhubaneswar on Thursday. PPT deputy secretary K Trirumoolar and NRL CGM(Projects) AP Chakraborty singed the documents in the presence of PPT chairman Rinkesh Roy, and NRL MD S K Barua. An amount of Rs. 20 Crore was handed over by NRL to PPT as initial deposit for the land.
NRL has embarked on a major refinery expansion project to treble its capacity from existing 3 MMTPA to 9 MMTPA at a project cost of more than Rs. 22,000 Crore, the highest ever investment in the North East of India. Formal approval from government of India for this project was received in January 2019.