India: EPCC Maire Tecnimont Bags 170 Million Dollar Contract by IOCL
Maire Tecnimont has been awarded an Engineering, Procurement, Construction and Commissioning (EPCC) contract by Indian Oil Corporation Ltd (IOCL) for a new polypropylene plant and related facilities in Barauni, Bihar, India. With this deal, Maire Tecnimont Group intends to expand its footprint in India.
Milan/Italy – Maire Tecnimont has recently announced that a consortium composed of its subsidiaries Tecnimont and Mumbai based Tecnimont has been awarded an EPCC (Engineering, Procurement, Construction and Commissioning) Lump Sum contract by Indian Oil Corporation Ltd (IOCL), for the implementation of a new polypropylene plant and related product logistics facilities. The plant will be located in Barauni, in the state of Bihar, in North-Eastern India.
The scope of work entails Engineering, Procurement, Construction and Commissioning activities up to the Performance Guarantees Test Run.
The overall value of the contract is about 170 million dollars. The polypropylene plant will have a capacity of 200,000 tons per year and the time schedule is 30 months from the award date up to mechanical completion.
The new polypropylene plant will be part of IOCL’s Barauni Refinery capacity expansion project, which entails the installation of large grassroots units as well as revamps and upgrades to increase the capacity of current units. The Barauni Refinery Expansion project is part of IOCL’s plan to meet the growing domestic demand for added-value products needed to boost the country’s manufacturing industry.