ONGC, for its mega petrochemical project, has staked a claim to the land designated for strategic crude oil reserve project at Mangalore. Indian Strategic Petroleum Reserve Ltd (ISPL) is to build the storage facility at the site where ONGC wants to locate its Rs 35,000 crore petrochemicals. The Karnataka government has shown keenness to assign the plot to ONGC to ensure inflow of huge investment into the state.
Engineers India Ltd., which has been picked by ISPL to test the geological validity of the site, has declared that the land was ideal for the storage facility as the rocky terrain can be blasted to carve out the storage space. The facility is being modelled on underground facilities in South Korea.
Senior petroleum ministry officials feel the strategic reserve facility is a prestigious project and must get precedence over the petrochemicals zone.
25-May-06 
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