France-based Technip Energies, a world-leading engineering and technology player, has recently been awarded a large engineering, procurement, construction and commissioning (EPCC) contract by Indian Oil Corporation Limited (IOCL) for its paraxylene (PX) and purified terephthalic acid (PTA) complex project at Paradip, Orissa, on the east coast of India.
The EPCC contract covers the delivery of a new 1.2 MMTPA PTA plant and associated facilities. PTA is a major raw material used to manufacture polyester fibres, PET bottles and polyester film used in packaging applications.
“We are pleased to be awarded another prestigious contract by Indian Oil Corporation Limited. We look forward to starting this significant project which illustrates our commitment to India – a core market for us. It also significantly consolidates our leading position for executing complex petrochemical projects,” said Marco Villa, chief operating officer of Technip Energies.
Paradip Refinery is the most-modern refinery in India. Its products meet the energy demands of the domestic market and are partly exported. With the aim to create a value chain, Paradip Refinery has ventured into petrochemicals with the production of polypropylene (PP), mono ethylene glycol (MEG), and is now going into PX and PTA production. The availability of PTA at Paradip will provide a boost to polyester manufacturing facilities in the vicinity.
Technip Energies has a strong footprint in India and local presence in Delhi, Mumbai, Chennai and Dahej. For the company, a ‘large’ contract is between €250 million and €500 million.