October 1998

Oiltanking Now in India, Too

As part of a joint venture with two Indian state-owned companies, Indian Oiltanking opens its first tank terminal in the north of Mumbai. Heavy fuel oil, diesel and naphtha are stored in this new 195,000 cbm facility. The products are delivered by tanker, stored, then transferred to rail tank cars which supply the region surrounding Mumbai.

For the past two years, Oiltanking has been working with the Indian state-owned companies IOC and IBP to further tank terminal projects in India. To this end, the joint venture enterprise Indian Oiltanking Ltd was founded in autumn 1996, with Oiltanking GmbH and its Indian partners owning 50% and 25% stakes respectively.

The terminal in Mumbai is running close to capacity, and a second construction phase of a further 60,000 cbm has already been approved; There are also plans to build additional tank terminals in India.