Essar Projects bags Rs. 1400 crore contract from Indian Oil Corporation Ltd.

abarrelfullabarrelfull wrote on 23 Nov 2010 06:47
Tags: asia contracts essar india ioc paradip project refinery

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Essar Projects (I) Ltd. (EPIL), India’s leading engineering, procurement and construction (EPC) , company, today said that it has achieved a new landmark in the EPC business space by bagging a contract valued at Rs. 1,400 Crore from Indian Oil Corporation Ltd (IOCL). EPIL emerged as the winner against stiff international competition. With this contract, the current order book size of Essar Project is in excess of USD 5.5 billion.

IOCL is setting up a 15-million-tonnes-per-annum refinery in Paradip, Orissa and has mandated EPIL for the Lump Sum Turn Key (LSTK) Package A for the main Refinery Units. The first phase of the project is scheduled to be completed on an extremely challenging fast track basis in 17 months, and will play an important part in satisfying the rising domestic demand for fuel.

Mr. Alwyn Bowden – CEO, Essar Projects said “Essar Projects has made its mark in the power and oil & gas sector as a preferred EPC partner for over four decades. This prestigious order by IOCL further endorses our capabilities in executing critical and crucial projects. With an explosive growth predicted for the EPC market in India in the coming years, the company is well poised to capture the potential.”

The scope for this IOCL contract includes residual Process Design, Detailed Engineering, Procurement, Construction, Commissioning and Performance Testing of core process units of the refinery, including the Atmospheric Vacuum Unit (AVU), Straight Run LPG Treating Unit, Naphtha Hydro Treating (NHT), Naphtha Fractionator Unit (NFU), Continuous Catalytic Reforming (CCR) Unit, Sour Water Stripper (SWS) Unit and Amine Regeneration Unit (ARU).

Essar Projects (I) Ltd is one of the core verticals of the Essar Group which is a multinational conglomerate and a leading player in the sectors of Steel, Oil & Gas, Power, Communications, Shipping Ports & Logistics, Projects and Minerals.

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