NEW DELHI Two people were killed by a fire at a fuel storage terminal of state-run Indian Oil Corp (IOC.NS) in Hazira in Gujarat on Saturday.
The dead were identified as Raisingh Choudhary, 38 and Rahul Prasad, 20, the company said in a statement on Sunday, which added the fire has now been brought under control. Both were contractors working in the terminal.
"The fire which broke out in the Motor Spirit (MS) tank of IOC's bulk storage terminal at Hazira yesterday afternoon has been fully contained now and is only smoldering. All other tanks are safe," the company said.
Petroleum and Natural Gas Minister Veerappa Moily, who visited the site, said the damage to Indian Oil could be as much as 450 million rupees.
The company said the cause of the fire was being investigated by an internal committee which will submit its report on January 20.
The Hazira terminal has nine storage tanks - five petrol and four diesel.
The tank where the blaze started had about 6,000 kilolitres of petrol, almost half of its capacity, when it caught fire. Because of winds it had spread to another petrol tank.
(Reporting by Nidhi Verma; Writing by Arup Roychoudhury; Editing by Mike Nesbit)
India to receive normal rains, not surplus, as La Nina chances fade
MUMBAI/NEW DELHI India will receive normal rainfall over the 2016 monsoon season, not surplus as previously expected, with the chances of a La Nina weather pattern emerging over the period seen as unlikely, three senior officials at state-run weather department said.
Piramal to partner Bain Capital for distressed-debt investment
MUMBAI Piramal Enterprises Ltd said it would partner Bain Capital to invest in distressed assets, becoming the latest entrant in the space as the nation's banks are on a drive to clean up $120 billion of sour debt.
China takes aggressive steps to fend off banking, financial risks
BEIJING/SHANGHAI China took aggressive steps on Wednesday to head off signs of growing risks in its financial and banking system, unveiling detailed rules to curb an unruly peer-to-peer (P2P) lending sector and intervening in its money markets.