Hindustan Construction secures contract for strategic oil storage cavern
01.06.2010 - NEWS
December 30, 2009 [Equity Bulls] - HCC (Hindustan Construction Company), a leading infrastructure construction and development company has been awarded a prestigious contract worth Rs. 374.66 Crore (€56,9 million) from Indian Strategic Petroleum Reserves Ltd (ISPRL) to construct strategic crude oil storage cavern at Padur in Karnataka.

HCC is already constructing India’s first strategic crude oil storage in Vishakhapattanam, Andhra Pradesh. This order is for construction of underground rock caverns (Part A) to store 1.25 million tonnes crude oil. It includes, detailed engineering and design, underground excavation, access tunnels, water curtain galleries, main storage cavern, shafts and associated underground civil works including geological mapping. The project will be completed in 36 months.

This project is part of the strategic crude oil storage caverns being set up by Indian Strategic Petroleum Reserves Ltd, a subsidiary of Oil Industry Development board. The first of these oil storages of 1.33 million tonnes capacity is under construction in Vishakhapattanam.

10-year Treasury yield hovers close to highest level since April as investors await key jobs data
01.10.2025 - NEWS
U.S. Treasury yields hovered close to its highest level since April on Friday, as investo... Read More
Union dockworkers, port employers announce tentative deal at East Coast and Gulf ports
01.09.2025 - NEWS
State of Freight The tentative agreement is on all items for a new six-year mas... Read More
China's property market is expected to stabilize in 2025 — but stay subdued for years
10.30.2024 - NEWS
China’s struggling real estate sector may not start turning around until the sec... Read More
Harris will offer an alternative to Trump-era politics in closing argument speech
10.29.2024 - NEWS
1234534234 Democratic presidential nominee U.S. Vice President Kamala Harris walks to bo... Read More