Proposal (RFP) for Indian Strategic Petroleum Reserves limited (ISPRL)'s Padur-II Strategic cum Commercial Reserves for participation in PPP Mode
1. Under the PPP mode, the Concessionaire will have the flexibility to design, build, and operate the caverns. The concessionaire will have rights over the crude oil inventory as per the agreed terms, with the Government of India holding the first right of refusal on the inventory in times of exigencies. The Concessionaire will also have a dedicated Single Point Mooring (SPM) and pipeline for crude oil loading and unloading at Padur. The design and construction of the SPM and associated pipelines are also part of the project to be executed by the Concessionaire.
- The Concessionaire will be entitled to utilize 100% of the storage space of the SPRs for any commercial purpose, such as trading of crude oil or renting the caverns, as per the terms of the agreement.
- Up to 60% of the project cost will be available as Viability Gap Funding (VGF) from the Government of India.
- The bidding parameter in the RFP will be the Grant for the project, and the bidder quoting the “lowest grant” or “highest premium” in INR crores will be the Successful Bidder.
- Dedicated SPMs for Padur are envisaged as an integrated part of the project, and the Concessionaire will be free to construct and use them.
- The Concessionaire will have flexibility in filling the desired crude oil grade in the caverns, as per the design parameters.
- ISPRL is providing encumbrance-free land (214 acres) at Padur, Udupi District for the project.
