IOC fire aftermath delays Cairn's Rajasthan pipeline

The fire that devastated IOC's fuel depot on 29 October 2009 destroyed a pumping station of the Mundra-Panipat pipeline at Jaipur, reducing the line capacity by one-third

The devastating fire at Indian Oil Corp's (IOC) Jaipur fuel depot has delayed commissioning of Cairn India's pipeline for transporting crude from its Rajasthan oil fields, reports PTI.

Cairn has laid a 600-km heated pipeline from Barmer to Salaya in Gujarat to transport Rajasthan crude oil to IOC's refineries but the fire on 29 October 2009 has delayed its commissioning, sources in the know said.

The pipeline was to carry Rajasthan oil to Gujarat, from where it had to be pumped into IOC's Mundra-Panipat pipeline for onward transportation to Panipat refinery in Haryana. But the fire destroyed a pumping station of the Mundra-Panipat pipeline at Jaipur, reducing the line capacity by one-third.

Sources said as Cairn crude was waxy, it turned solid at room temperature and had to be blended with normal oil in not more than 10% ratio for transportation in non-heated pipelines like Mundra-Panipat.

It was planned that 18,000 barrels of Rajasthan crude could be transported per day through the Mundra-Panipat pipeline, which has a capacity of 9 million tons a year (180,000 barrels per day).

But with the fire destroying the Jaipur pump, the pipeline capacity fell to 6.5 million tons, which meant that only 13,000 barrels of Rajasthan crude could be transported.

Cairn, however, felt that 13,000 bpd was too low a volume for safe operation of its Barmer-Salaya pipeline and pegged critical volumes at a minimum of 18,000 bpd, sources said.


HDIL inks pre-lease deal with Future Group

HDIL and Future Group have agreed on a pre-lease deal for the entire retail space of about 10% (out of a total of a million square feet) at Metropolis Tower at suburban Andheri in Mumbai

Realty major Housing Development and Infrastructure Ltd (HDIL), and the Kishore Biyani-led Future Group have agreed on a pre-lease deal for the entire retail space at Metropolis Tower at suburban Andheri in Mumbai, reports PTI.

The project has over a million square feet mixed-use development of which 10% area has been leased to the Future Group, a press release issued on Monday said.

Metropolis Tower, a prime mixed-use development, has office space, retail, entertainment and hospitality segments and is located in the affluent locality of Four Bungalows. Metropolis Tower is located next to the upcoming metro station.

"Centrally located within the upscale residential and business districts of Four Bungalows, Versova and Lokhandwala, Metropolis Tower will be an iconic landmark that will cater to all business, entertainment, retail and F&B needs of this prime area," the release said.

"We are extremely pleased to welcome the Future Group into (the) Metropolis Tower. The very brand denotes a varied shopping experience that will capture the entire locale," HDIL's managing director, Sarang Wadhawan, said.

"Metropolis Tower is built on a formidable grid of planning and we are sure that it will soon be a premium business and entertainment destination in the city. This deal signifies that the commercial and retail real estate are on an upswing and the real-estate market has significantly recovered post correction," Mr Wadhawan said.

Future Group's director, Sunil Biyani, said, "With HDIL, we are assured that Metropolis Tower is not only centrally located ensuring we get good footfalls but is also meticulously planned and constructed. We are sure that this is just the beginning of a long association."

The Future Group is one of India's leading business houses with businesses spread across the consumption space in segments like retail, financial services and logistics.

Led by its flagship enterprise, Pantaloon Retail, the group operates close to 17 million square feet of retail space in 73 cities and towns and 65 rural locations across India.

HDIL, with a land reserve of 194.36 million square feet, has about three decades of experience in the real estate and infrastructure domains, having developed over 100 million square feet of commercial, residential and retail space.


Phishy Business

Cybercrime has moved on from the spotty teenage hacker to a sophisticated operation. Here are...

Premium Content
Monthly Digital Access


Already A Subscriber?
Yearly Digital+Print Access


Moneylife Magazine Subscriber or MSSN member?

Yearly Subscriber Login

Enter the mail id that you want to use & click on Go. We will send you a link to your email for verficiation

We are listening!

Solve the equation and enter in the Captcha field.

To continue

Sign Up or Sign In


To continue

Sign Up or Sign In



The Scam
24 Year Of The Scam: The Perennial Bestseller, reads like a Thriller!
Moneylife Magazine
Fiercely independent and pro-consumer information on personal finance
Stockletters in 3 Flavours
Outstanding research that beats mutual funds year after year
MAS: Complete Online Financial Advisory
(Includes Moneylife Magazine and Lion Stockletter)