BWI: New Contracts Awarded for Polyolefin Projects in India

Press release from Business Wire India
Source: Tecnimont ICB
Tuesday, June 14, 2011 11:25 AM IST (05:55 AM GMT)
Editors: General: Consumer interest; Business: Advertising, PR & marketing, Business services, Chemicals, Construction, Energy companies, Financial Analyst, Heavy industries, Major diversified industrial groups, Transport engineering; Technology
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New Contracts Awarded for Polyolefin Projects in India
- EPC Lump-Sum Turnkey Contract: total value of the two contracts approximately USD440 MN, - Client: ONGC Petro additions Limited (OPaL)

Mumbai, Maharashtra, India, Tuesday, June 14, 2011 -- (Business Wire India) -- Maire Tecnimont S.p.A. announces that its main operating company Tecnimont S.p.A. and its fully owned subsidiary Tecnimont ICB Pvt Ltd (TICB) of India have been awarded two EPC Contracts on lumpsum turnkey basis for the realization of Polyolefin Plants for PE and PP in Dahej, Gujarat State, India. The client is ONGC Petro additions Limited (OPaL), a joint venture company promoted by Oil and Natural Gas Corporation (ONGC), a leading global energy major, along with other co-promoters i.e. the Gujarat State Petroleum Corporation (GSPC) and Gas Authority of India Limited (GAIL).

The two Contracts have a total value of about USD 440 million equivalent and cover the implementation of a Polypropylene Plant of 340 Kty capacity and two HD/LLD Swing Polyethylene Plants of 360 Kty capacity each.

The award followed International Competitive Bidding process where many major EPC Contractors participated.

The Ineos' Innovene PP process will be used for the Polypropylene plant and the Ineos.

These awards represent an important milestone for Maire Tecnimont, that consolidates its presence in the Indian EPC contract as well as its role of one of the market leaders in the Petrochemical Projects segment.

Group Presence in India and Tecnimont ICB

Tecnimont's commitment to India goes back to the 1930s, with the realization of the first nitric acid plant in the country. In the last 5 decades, the Group has completed more than 20 fertilizer plants and 40 process units in India. Today the fully controlled Group's company in India, TICB, is amongst the largest engineering and construction companies operating in the country. It has capability and experience to supply plants on Lumpsum Turnkey basis in addition to providing EPC services to group companies for projects worldwide. TICB maintains a highly qualified and experienced staff of about 2,000 employees (engineers and specialized technicians).

For further information : www.ticb.com

Maire Tecnimont SpA

Maire Tecnimont S.p.A. is the parent company of an Engineering & Construction International industrial group which operates in three sectors: Oil, Gas & Petrochemicals, Power, Infrastructure & Civil Engineering. The Group, quoted on the Milan Bourse, is present in over 30 Countries, controls over 50 operating companies and can rely on a workforce of about 5,200 employees, of which more than half are located internationally. At 31 December 2010, the Group reported Revenues of ?2,536 million and Net income, after minorities, of ?62 million.

For further information: www.mairetecnimont.it .




CONTACT DETAILS
Srushti Rao, Manager - Communications, Tecnimont ICB, + 91 (22) 66945823 / +91 9820394009, s.m.rao@ticb.com

KEYWORDS
CONSUMER, MARKETING, BUSINESS SERVICES, CHEMICALS, CONSTRUCTION, ENERGY, Financial Analyst, HEAVY INDUSTRIES, GROUPS, TRANSPORT, TECHNOLOGY

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