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Italy's Maire Tecnimont gets IOCL contract for polypropylene plant

13
Jul '21
Pic: Maire Tecnimont
Pic: Maire Tecnimont
Maire Tecnimont has been awarded a contract by Indian Oil Corporation for the implementation of a new polypropylene plant and related product logistics facilities in Barauni, Bihar. The contract will be executed by a consortium comprising its subsidiaries - Tecnimont and Mumbai-based Tecnimont Private Limited. The contract is valued at about $170 million.

The scope of work entails engineering, procurement, construction and commissioning activities up to the Performance Guarantees Test Run. 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.

Pierroberto Folgiero, Maire Tecnimont Group chief executive officer, 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 really honoured to be IOCL’s partner of choice to contribute to the sustainable development of India’s energy transformation industry. We continue to expand the Group’s industrial footprint thanks to our unparalleled technological know-how, a deep knowledge of the local market through our Indian entity Tecnimont Private Limited, as well as our strong commitment to ensure environmentally best performing products and processes”.

Fibre2Fashion News Desk (SV)

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