Crude oil storage facility to be constructed in India
8/31/2010 12:00:00 AM
Jacobs Engineering Group Inc. has a contract from IOT Infrastructure & Energy Services Ltd. (IOT) (formerly Indian Oiltanking) to provide engineering services for the Cavern project to be built for Indian Strategic Petroleum Reserves Ltd.(ISPRL). The project is for the storage of crude oil in Visakhapatnam, India.
Officials did not disclose the contract value, however they indicated that the total installed cost of the project is estimated at $65 million. IOT is executing the project on an EPC basis for ISPRL. Jacobs will perform engineering services from their offices in India.
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