Essar Projects, a part of Ruias- owned Essar Group, today said it has bagged the Rs 1,400-crore IOC contract for the state-owned company's under-construction Paradip refinery in Orissa.
"Essar Projects (India) Ltd emerged as the winner against stiff international competition. With this contract, the current order book size of Essar Project is in excess of $5.5 billion," the company said in a press statement here.
Indian Oil Corporation is setting up a 15 million-tonne a year oil refinery at Paradip and has mandated "EPIL for the Lump Sum Turn Key (LSTK) Package-A for the main refinery units," it said.
The first phase of the project is scheduled to be completed in 17 months and will play an important part meeting rising domestic fuel demand.
Essar Project CEO Alwyn Bowden said: "This prestigious order by IOC further endorses our capabilities in executing critical and crucial projects. With an explosive growth predicted for the engineering procurement and construction market in India in the coming years, the company is well poised to capture the potential."
The scope for the contract includes residual process design, detailed engineering, procurement, construction, commissioning and performance testing of core process units of the refinery.
The units include 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), the statement added.
