A significant contract has been won by the L&T Energy Business’ Hydrocarbon-Onshore branch from Indian Oil Corporation (IOCL).
In order to address the rising demand for petroleum products as well as to improve their long-term profitability and competitiveness, IOCL is putting into action the Panipat Refinery Expansion (P-25) Project. This project will expand refining capacity from 15 MMTPA to 25 MMTPA.
For this P-25 Project, an engineering, procurement, building, and commissioning (EPCC) contract is being used to set up a Residue Hydrocracker Unit (RHCU). With a 2.5 MMTPA capacity and a licence from Axens (France), the RHCU will convert vacuum residue (VR) into high-value commercial products (mainly diesel). The Lump Sum Turnkey (LSTK) method of international competitive bidding is used to award the contract.
