Indian Oil Corporation looks set to build its second import project at Dhamra Port on the country’s east coast.
The port authority’s board has cleared the way for a memorandum of understanding with the state-run oil refiner covering the development of a 2.5 million tonnes per annum facility.
Dhamra Port will set up the regasification plant with the help of around 20 billion rupees ($410 million) in investment from Indian Oil, according to Sachin Mehta, senior research analyst at IFCI Financial Services.
