IOC seeks alternate site in Jaipur to rebuild fuel depot | delhi | Hindustan Times
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IOC seeks alternate site in Jaipur to rebuild fuel depot

State-run Indian Oil Corp is seeking an alternate site to rebuild the burnt down fuel depot at Jaipur, with the reconstruction likely to cost the company Rs 200-250 crore, its Chairman Sarthak Behuria said on Tuesday.

delhi Updated: Nov 03, 2009 20:50 IST

State-run Indian Oil Corp (IOC) is seeking an alternate site to rebuild the burnt down fuel depot at Jaipur, with the reconstruction likely to cost the company Rs 200-250 crore, its Chairman Sarthak Behuria said on Tuesday.

"We have flagged with the state government our requirement of alternate site close enough to feed the Jaipur market," he told reporters in Delhi.

While the fire that erupted because of a leakage at the 100,000 kilolitre capacity fuel depot on the outskirts of Jaipur on October 29 burnt Rs 140-150 crore worth of fuel, rebuilding the terminal would cost between Rs 200 and Rs 250 crore, he said.

"About 32,000 kl of fuel was burnt in the fire for which we have insurance cover. As far as the terminal is concerned, I would like to comment as insurance claim is to be filed," he said.

The company had a third party insurance claim of Rs 55 crore, he said. Third party insurance claims are damages to be paid to outside parties who may suffer any loss due to accidents such as the fire.

Behuria said IOC would pay Rs 50 crore to industries that suffered damage due to the fire in which 11 persons lost their lives. Six of those killed were IOC employees.

Fire at 10 out of the 11 fuel storage tanks has subsided while it continues to rage at a petrol storage tank. "We hope it will be put out by Wednesday," he said.