According to the initial assessment made by the Indian Oil Corporation, it will lose INR 300 crore due to the major fire at its Jaipur Oil Depot. The fire has slowed down, but it will take another 24 hours to restore normalcy.

At least 15 people died and over 150 injured in the fire mishap. The incident occurred at Sitapura Industrial Area on Jaipur Kota highway.

Out of the total loss of INR 300 crore, INR 150 crore is the product loss, while infrastructure damage is put at INR 150 crore. It may take 15 to 18 months to re build the Oil Depot in Jaipur.

Mr Murli Deora petroleum minister announced the setting up of a high level, five member committee headed by Mr MB Lal former CMD of Hindustan Petroleum Corporation, to probe the cause of the fire at the Indian Oil Corporation fuel depot in the Sitapura Industrial Area near here and suggest safety measures.

The Petroleum Ministry has also announced a compensation of INR 500000 for them and Rajashtan Government announced INR 200000 each. It has been decided that all fuel depots will be set up at least 30 kilometer away from Jaipur going forward.

(Sourced from Hindu+Business Standards)