Jacobs Receives Contract From Indian Oil Corporation Ltd. for Paradip Refinery

abarrelfullabarrelfull wrote on 21 Sep 2012 19:10

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Jacobs Engineering Group Inc. (NYSE: JEC) announced today that it received a contract from Indian Oil Corporation Ltd. (IOCL) to provide project management consultancy (PMC) services for a delayed coker unit (DCU) at its Paradip refinery in the State of Orissa. IOCL's Paradip refinery is a 15 MMTPA facility.

Officials did not disclose the contract value. The total installed cost of a DCU is estimated at US $350 million.

Jacobs will perform front-end engineering and design services, and supervise the resulting lump sum turnkey (LSTK) contractors whose work includes the installation of a 4.1 MMTPA DCU with associated facilities at IOCL's Paradip refinery.

In making the announcement, Jacobs Group Vice President Chris Nagel stated, "We are delighted to continue working with IOCL to ensure that its facilities continue to meet customers' expectations for high-quality products."

Indian Oil Corporation Ltd. is currently India's largest company by sales with a turnover of US $60 billion. Indian Oil is also the highest ranked Indian company in the prestigious Fortune 'Global 500' listing.

Jacobs, with annual revenues exceeding $12 billion, is one of the world's largest and most diverse providers of technical, professional, and construction services.

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