Deora lays foundation stone for OIDB bhawan

Noida, June 20 (UNI) Minister of Petroleum and Natural Gas Murli Deora today laid the foundation stone for the 'Oil Industry Development Board' (OIDB) bhawanto be built at an estimated cost of Rs 135 crore.

Speaking on the occasion, Mr Deora said, ''at present, all the institutions funded by OIDB, such as, DGH, CHT, OISD and PPAC are housed in different buildings in Delhi. In view of their growing activities, their future requirement of space has also increased. It was, therefore, felt necessary to construct a building that can accommodate all these institutions under one roof so that there can be proper coordination and synergy between these institutions''.

Mr Deora called on OIDB to lay special emphasis on funding of research and development activities in the oil and gas sector including development of alternate sources of energy.

The OIDB bhawan would be set up on a four acre land and would be completed by September 2008. With its unique engineering, the 'Green Building' is expected to save upto 20 per cent in power consumption.

Set up in 1975 by the Ministry of Petroleum and Natural Gas, OIDB provides financial assistance for the development of oil and gas industry.

UNI