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Mumbai, May 30 (UNI) A consortium comprising Larsen&Toubro Ltd (L&T) and Toyo Engineering Corporation (Toyo) of Japan has won a turnkey contract valued over Rs 2600 crore from Indian Oil Corporation Ltd (IOC).

Announcing this, L&T said this contract is for project management, engineering, procurement and construction of naphtha cracker and associated units at IOCs Panipat petrochemical complex in Haryana.

Toyo, the leader of the consortium, would undertake work for the cracker plant section on EPC basis, as well as overall project management, while the L&T would undertake work for the cracker heaters and associated units, namely C4 hydrogenation, pyrolysis gasoline hydrogenation, and benzene extraction units, also on EPC basis. The share of the companys petrochemical business unit in the contract is Rs 900 crore.

IOC will process naphtha from its Panipat, Mathura and Gujarat refineries to produce ethylene, propylene and benzene at this naphtha cracker. The technology for the cracker is licensed by IOCL from ABB Lummus of USA.

UNI SN PM AG1518