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ISPRL Invites Bids for Development and Operation of 4.0 MMT Strategic-cum-Commercial Petroleum Reserves at Chandikhol, Odisha, under PPP Mode

Indian Strategic Petroleum Reserves Limited (ISPRL) has floated a Request for Proposal (RFP) on 31.10.2026 for the “Development and Operations of 4.0 MMT capacity, Commercial cum Strategic Petroleum Reserves including dedicated SPM and associated onshore and offshore pipelines on a DBFOT (Design, Build, Finance, Operate, and Transfer) basis under PPP (Public Private Partnership) mode” at Chandikhol, District Jajpur, Odisha, India. The details for participation and bidding documents are available on ISPRL's e-tendering portal https://isprl.ewizard.in or you can visit ISPRL's website, https://www.isprlindia.com/tenders.asp. The RFP document and the draft Concessionaire document are enclosed for reference.

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) near Paradip, at the eastern coast of Odisha, India and a dedicated pipeline for crude oil loading and unloading at Chandikhol. The design and construction of the SPM and associated pipelines are also part of the project to be executed by the Concessionaire.

Some of the key terms of the RFP are:

  • The Concessionaire will be entitled to utilize 100% of the storage space of the Strategic cum Commercial Petroleum Reserve 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 Chandikhol 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 (400 acres) at Chandikhol, District Jajpur, Odisha for the project.


The pre-bid meeting for this tender is scheduled on01stDecember 2026 at 1100 hrs at ISPRL’s Head Office, 3rd Floor, OIDB Building, Noida. Participation can also be done through online. The link for online participation will be sent after a request for participation is received.


The participation in pre-bid meeting and pre-bid queries can be sent to choudhary.ajit@isprlindia.com by 25thNovember 2026.

RFP_Chandikhola bullet

Concession Agreement_Chandikhol bullet