Saturday, April 25, 2020

Central Vista Beautification Cost , statue of unity and No future SPR

As the nation braces for the economic fallout of the coronavirus outbreak, the government’s ambitious Central Vista redevelopment project in Lutyens’ Delhi is under the scanner with several opposition leaders slamming the Rs 20,000 crore venture as a vanity project and a postponable luxury in times of crisis.

Constructed at a cost of Rs 2,989 crore, the 182-metre sculpture statue of unity has been dedicated to the nation. 

Now the bigger question is , India doesn't have budget to boost its SPR oil reserver capacity from 39 Million Barrel to its competitive countries like Japan, US and China their alone capacity is more than that.

The Strategic Petroleum Reserve (SPR) is a supply of petroleum held by the United States Department of Energy (DOE) for emergency fuel. It is the largest emergency supply in the world, and its underground tanks in Louisiana and Texas have capacity for 797 million barrels (126,700,000 m3).[1] The United States started the petroleum reserve in 1975 after oil supplies were interrupted during the 1973–1974 oil embargo, to mitigate future supply disruptions.

India’s Asian peers China and Japan are way ahead in creating crude storage capacity.
US storage capacity       =    797 million barrels
India  storage capacity    =   39 million barrels, 
China storage capacity    =    550 million barrels
Japan storage capacity    =     528 million barrels, ensuring a supply of over 190 days in the event of a supply disruption.
Though India approved construction of two new caverns in 2018, as part of its phase two expansion, in Chandikhol in Odisha (4mt) and Padur II in Karnataka (2.5mt), work is yet to commence on these projects.
While building these caverns has a budgeted cost of around 15,000 crore (as of 2018), filling them would cost at least an additional 20,000 crore.

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