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NEW DELHI: The hydrocarbon-onshore division of L&T’s energy business has secured a “large” contract from Indian Oil Corp. (IOC). The engineering and construction behemoth classifies contracts worth ₹2,500 crore to ₹5,000 crore as “large”.
IOC is implementing the Panipat Refinery expansion (P-25) project to boost refining capacity to 25 MMTPA from 15 MMTPA to meet rising demand of petroleum products and to increase 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 the 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 was awarded through international competitive bidding on a lump sum turnkey basis.
L&T had earlier bagged a significant EPCC contract for setting up DHDT Unit (5.0 MMTPA, licensed by Shell) under the same P-25 Project of IOC at the Panipat refinery. Orders worth ₹1,000 crore to ₹2,500 crore are considered significant.
Subramanian Sarma, whole-time Director & Sr. Executive Vice President (Energy), said, “We are very delighted to be part of this large expansion project of IOCL-Panipat. I would like to thank IOCL for having trust in our capabilities. We are fully committed to delivering the complex process units with high standards of HSE and Quality.”
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