Bhubaneswar, March 27 -- The long-delayed strategic petroleum reserve (SPR) project at Chandikhole in Odisha is back in focus, with India moving to fast-track its execution amid rising concerns over crude supply disruptions due to the ongoing Iran conflict.

Indian Strategic Petroleum Reserve Ltd (ISPRL) is expected to float a tender by the end of April for the 4-million-tonne underground crude storage facility. The project, approved years ago but stalled due to land and clearance issues, is now being pushed with renewed urgency as part of the Centre's broader energy security strategy.

According to a Money Control report, the Chandikhole project is estimated to cost around USD 1 billion for construction, while an additional USD 3 billion...