 "McNally Bharat JV bags Rs 2048 cr contract for bitumen project in Oman")
McNally Bharat Engineering Company Ltd (MBE) joint venture firm in Oman has bagged $ 315 million (about Rs 2048 crores) for a bitumen refinery project in that country. “McNally Bharat Engineering, through its recently formed 50:50 special purpose vehicle (SPV) with EMC Group of Oman, received a contract for construction, detailed engineering, construction supervision, mechanical commissioning and supply for a value of $ 315 million (Rs 2048 crores approximately) from Sohar Bitumen LLC in Oman for its bitumen refinery in Sohar, Muscat, Oman,” said MBE in a BSE filing.
The share of MBE in the said order will be $ 157 million (Rs 1024 crores approximately). The delivery period of the project is 24 months from the date of receipt of advance from the customer.
The bitumen refinery is part of the Sohar Refinery Improvement Project (SRIP), a multibillion dollar capital investment undertaken by Orpic (Oman Oil Refineries and Petroleum Industries Company). With this project, for the first time in Oman Orpic will be able to produce bitumen, primarily used to manufacture asphalt. The bitumen project will reportedly have an installed capacity of around 300,000 tonnes per annum.
The share of MBE in the said order will be $ 157 million (Rs 1024 crores approximately). The delivery period of the project is 24 months from the date of receipt of advance from the customer.
The bitumen refinery is part of the Sohar Refinery Improvement Project (SRIP), a multibillion dollar capital investment undertaken by Orpic (Oman Oil Refineries and Petroleum Industries Company). With this project, for the first time in Oman Orpic will be able to produce bitumen, primarily used to manufacture asphalt. The bitumen project will reportedly have an installed capacity of around 300,000 tonnes per annum.