Indian Oil in pleased to inform that MOST (A Strategic Petroleum Storage Co.) Business Model has been finalised after 3+ years of continuous follow up & struggle with State Trading Corporation (STC) & Govt. of Mauritius (GoM).
The Fuel Storage & Handling Agreement with STC was a real Team Work amongst the Oil Marketing says Indian Oil. Companies as equal Shareholders, spearheaded by the Chairman worked dedicatedly for last one year & got it cleared at government level. The role played by GM, STC is stupendous.
The main highlights are as follows:
- MOST will be paid 12 Cents / Litre / Month + VAT as FS&H Charges by STC for entire capacity of 33,000 KL, which will cover Opex, Land Lease, Loan Interest & Depreciation.
- All the Shareholders will receive ROI @6% per Annum on their Equity from 2021 onwards as on 31-Dec, every year from STC.
Thus IOML’s recent decision & efforts put in to increase our share in MOST from 6% to 20% is going to pay dividends.
