L&T Hydrocarbon Engineering (LTHE), a wholly owned subsidiary of Larsen and Toubro (L&T), has won two significant orders from Indian Oil Corporation (IOCL).
The engineering, procurement, construction and commissioning (EPCC) contracts are for setting up Mono Ethylene Glycol (MEG) Plant and Ethylene Recovery Unit (ERU) under LSTK-1 Package, associated Offsite and Utilities under LSTK-2 Package at IOCL Paradip Refinery (Odisha). MEG plant is licensed by Scientific Design with a capacity of 357 KTA while ERU is licensed by Lummus Technology (now McDermott) with a capacity of 180 KTA.
Both the projects, awarded through international competitive bidding, are on Lump Sum Turn Key (LSTK) basis and shall be executed concurrently.
Ethylene Oxide reactor, columns and other critical equipment for the project will be fabricated in house at Larsen a Toubro's manufacturing facilities.
Subramanian Sarma, MD and CEO, LTHE said, "L&T has a Proven Track Record of over 25 years in the refinery and petrochemical sector and bagging these two orders from IOCL reinforces our integrated capabilities in executing critical plants for petrochemical and refinery segments."
Shares of the company gained Rs 7.2, or 0.56%, to trade at Rs 1,302.50. The total volume of shares traded was 20,944 at the BSE (9.54 a.m., Thursday).