New Delhi: Hydrocarbon-Onshore Division of L&TK’s energy business has secured a “large” contract from Indian Oil Corporation (IOC). Engineering and construction giants classify contracts 2,500 crore to 5,000 crore as “big”.
IOC is implementing the Panipat Refinery Expansion (P-25) project to enhance the refining capacity from 15 MMTPA to 25 MMTPA to meet the growing demand for petroleum products and enhance profitability and competitiveness in the long run.
The Engineering, Procurement, Construction and Commissioning (EPCC) contract is for setting up Residue Hydrocarbon Unit (RHCU) for the project. The RHCU has been licensed by Accents (France) with a capacity of 2.5 MMTPA and will upgrade Vacuum Residue (VR) to high value commercial products, mainly diesel. The contract was awarded through international competitive bidding on outright turnkey basis.
L&T had earlier secured a significant EPCC contract for setting up of DHDT unit (5.0 MMTPA, licensed by Shell) under the same P-25 project of IOC at Panipat Refinery. worth ordering 1,000 crore to 2,500 crores are considered important.
Subramaniam Sarma, Whole Time Director and Senior Executive Vice President (Energy) said, “We are delighted to be a part of this mega expansion project of IOCL-Panipat. I would like to thank IOCL for having confidence in my abilities. We are fully committed to deliver complex process units with high standards of HSE and quality.”
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