Maire Tecnimont bags $170 million EPCC contract from IOCL
The contract with IOCL is for the implementation of a new polypropylene plant and related facilities in Barauni, Bihar. Tecnimont S.p.A. and its Indian entity, Tecnimont Pvt Ltd will execute the contract.
Maire Tecnimont S.p.A. has won an EPCC (Engineering, Procurement, Construction and Commissioning) contract from Indian Oil Corporation Limited (IOCL). Tecnimont will implement a new polypropylene plant and its related product logistics facilities.
A consortium composed of Maire Tecnimont S.p.A. and its subsidiaries, Tecnimont S.p.A. and Mumbai-based Tecnimont Private Limited, will execute the contract at the IOCL plant located in Barauni, in the State of Bihar, in North-Eastern India.
The overall value of the contract is $170 million. The scope of work entails EPCC activities until the Performance Guarantee Test Run. It is for 30 months from the date of awarding to Mechanical Completion.
The polypropylene plant
will have a capacity of 200,000 tons per year and be a part of IOCL’s Barauni Refinery capacity expansion project to meet the growing domestic demand for added-value products needed to boost India's manufacturing industry. The expansion includes large grassroots unit installation, revamps and upgrades to increase the capacity of the current units.
Pierroberto Folgiero, CEO, Maire Tecnimont
Group, commented, "This is our sixth strategic EPC contract with a market leader such as IOCL, along with our recent joint initiatives in the green energy arena. We are honoured to be IOCL’s partner to contribute to the sustainable development of India’s energy transformation industry.”