A joint venture between marine fuel supplier and storage operator Chemoil and Mundra Port developer Adani is increasing storage capacity in India.
Chemoil-Adani will expand its onshore storage capacity by 30,000 m³ and bring in a new double-hull bunker tanker in 2010 for its India operations.
The joint venture firm will launch a 3,000 dwt bunker tanker in January next year, and operate a 120,000 m³ terminal in Mundra port by the end of next year.
Chemoil-Adani is currently operating an Adani Group-owned 90,000 m³ onshore terminal. We'll end the lease for the current 90,000 m³ of storage and lease the 120,000 m³ terminal at a nearby location in Mundra port, Chemoil CEO Basheer Ahmed Sayeed says.
Bunker deliveries at Mundra port in India's north-west Gujarat state can only be made via pipelines, while supplies to other Gujarat ports are made through bunker tankers.
The joint venture between Singapore-listed Chemoil and India bunker supplier Adani Enterprises Limited started in January this year at Mundra, using existing port and bunkering facilities owned and operated by the Adani Group.