Larsen & Toubro bags large contract from Indian Oil

22 Aug 2022 , 03:18 PM

The Hydrocarbon-Onshore division of L&Ts Energy Business has secured a large contract from Indian Oil Corporation (IOCL). According to the companys project classification, the contract is valued between Rs 2500 to Rs 5000 crore. IOCL is implementing the Panipat Refinery Expansion (P-25) Project to enhance refining capacity from 15 MMTPA to 25 MMTPA to meet the growth in demand of petroleum products and to increase their profitability and competitiveness in the long run. The engineering, procurement, construction, and commissioning (EPCC) contract is for setting up a Residue Hydrocracker Unit (RHCU) for this P-25 Project. The RHCU is licensed by Axens (France) with a capacity of 2.5 MMTPA and will upgrade the Vacuum Residue (VR)to high-value commercial products (mainly diesel). The contract is awarded through international competitive bidding on a Lump Sum Turnkey (LSTK) basis. L&T earlier bagged a significant EPCC Contract for setting up DHDT Unit (5.0 MMTPA, licensed by Shell) under the same P-25 Project of IOCL at Panipat-Refinery. Powered by Capital Market – Live News