Technip Energies awarded a major petrochemical contract by Indian Oil Corporation for a new PTA plant
PARIS–(BUSINESS WIRE) – Regulatory news:
Technip Energies (PARIS: TE) won a major(1) Engineering, Procurement, Construction and Commissioning (EPCC) contract by Indian Oil Corporation Limited (IOCL) for its Paraxylene (PX) and Purified Terephthalic Acid (PTA) Complex Project in Paradip, Orissa , on the east coast of India.
This EPCC contract covers the delivery of a new 1.2 MMTPA(2) PTA plant and associated facilities. PTA is a major raw material used to make polyester fibers, PET bottles and polyester films used in packaging applications.
Marco Villa, Chief Operating Officer of Technip Energies, commented: “We are pleased to have won another prestigious contract from Indian Oil Corporation Limited. We look forward to starting this important project which illustrates our commitment to India – a key market for us. It also significantly consolidates our leadership position in the realization of complex petrochemical projects. ”
The Paradip refinery is the most modern refinery in India. Its products meet the energy needs of the domestic market and are partly exported. With the aim of creating a value chain, Paradip Refinery has entered petrochemicals with the production of polypropylene (PP), mono ethylene glycol (MEG) and is now embarking on the production of para xylene (PX) and d purified terephthalic acid (PTA). The availability of PTA at Paradip will give a boost to nearby polyester manufacturing facilities.
Technip Energies has a strong presence in India and a local presence in Delhi, Mumbai, Chennai and Dahej.
(1) For Technip Energies, a “large” contract is between € 250 million and € 500 million.
(2) million tonnes per year
To find out more about Technip Energies’ refining and petrochemical capacities:
We are recognized as a world-class player in the refining industry – from conceptual design to turnkey delivery – our services span the entire value chain of refining projects and integrated petrochemical complexes.
Learn more about: https://www.technipenergies.com/markets
About Technip Energies
Technip Energies is a leading engineering and technology company for the energy transition, with leading positions in liquefied natural gas (LNG), hydrogen and ethylene, as well as growing market positions in l ‘blue and green hydrogen, sustainable chemistry and CO2 management. The company benefits from its robust project delivery model supported by an extensive offering of technologies, products and services.
Present in 34 countries, our 15,000 employees are fully committed to bringing our customers’ innovative projects to life, to breaking down borders to accelerate the energy transition for a better future.
Technip Energies is listed on Euronext Paris with American certificates of deposit (“ADR”) traded over-the-counter in the United States. For more information: www.technipenergies.com.
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