G K Vasan, Union Minister of Shipping, laid the foundation stone on 27 November 2009 for Indian Oil Corporation’s (IOC) 10 million tonne oil berth at Paradip port in Orissa.
The new oil berth, second in the port, is estimated to cost Rs 172.97 crore. The existing one has a capacity of six million tonne.
As per sources, the need to have a second oil berth arises out of the proposed plan of IOC to build a 15 million tonne oil refinery at Paradip, which is slated to go on stream in 2012.
Besides, the minister also inaugurated a RO-RO Jetty for the use of Coast Guard and IOC at Paradip Port. The length of the jetty is 243 mtrs, which can accommodate both Coast Guard and IOC vessels at a time and also can operate as two separate jetties.