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India Seeks Private Investors for $910 Million Oil Reserve
India is looking for private investors to build and operate the nation’s largest strategic petroleum reserve site, which will boost India’s SPR capacity by 80% and cost an estimated $910 million, local media reported on Friday, citing tender documents. The proposed SPR site will be located at Chandikhol in the eastern Indian state of Odisha on the Bay of Bengal, and will be capable of holding up to 4 million tons of crude oil. The Indian government is offering a grant of $546 million (51.4 billion Indian rupees) to support private…
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