Technip Energies (PARIS:TE) has been awarded a large engineering, procurement, construction and commissioning (EPCC) contract by Indian Oil Corp. Ltd (IOCL) for its Paraxylene (PX) and purified terephthalic acid (PTA) complex projectat Paradip, Orissa, on the East Coast of India.
For Technip Energies, a ‘large’ contract is defined as between €250 million and €500 million.
This EPCC contract covers the delivery of a new 1.2 million tpy 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.
Marco Villa, Chief Operating Officer of Technip Energies commented: “We are pleased to be awarded another prestigious contract by Indian Oil Corp. Ltd. 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.”
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.
Read the article online at: https://www.hydrocarbonengineering.com/petrochemicals/10052021/petrochemical-contract-for-technip-energies/
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