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Teen solves centuries-old math problem
NEW DELHI, April 15 (UPI) -- India's government approved the creation of a 15 million ton strategic oil reserve.
Petroleum and Natural Gas Minister Murli Deora told Parliament Tuesday the strategic reserve will be done in phases, after the completion of the ongoing first phase of 5 mt capacity.
He said the government identified three sites for the construction; activities have already begun at Visakhapatnam, Andhra Pradesh state. Other locations are Mangalore and Padur.
"For Mangalore project, tenders for prequalification of bidders are being issued. Construction activities at Mangalore are expected to commence during the current financial year. As regards the Padur project, preconstruction activities such as survey for land acquisition, application for environment clearances and pipeline route survey are in progress," Deora said.
He said the three sites will together hold 5 million metric tons of crude oil reserves, which is equivalent to about 14 days cover on a consumption basis and 19 days cover on net import basis of 2006-07.
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