Essar Projects bags Rs1,400 cr contract from IOC

Essar Projects bags Rs1,400 cr contract from IOC

Mumbai: Essar Projects (India) Ltd (EPIL), on Monday said it has bagged a contract valued at Rs1,400 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 Projects is in excess of $5.5 billion, a press release issued here stated.

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-month, and will play an important part in satisfying the rising domestic demand for fuel.

Essar Projects CEO Alwyn Bowden 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.

It includes 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).

EPIL 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 and gas, power, communications, shipping, ports and logistics, projects and minerals.