Technip Energies N V said that  it has bagged a significant contract by Indian Oil Corporation Limited.

The contract award represents revenue of 50 million Euros to 250 million Euros to Technip.

The contract is for the license, basic engineering design package, proprietary equipment and catalyst supply and related services for the 1500 kilo tons per annum Paradip naphtha cracker unit block of the grassroot petrochemical complex in Paradip, India.

Technip Energies will also provide key proprietary equipment, including proprietary separation trays technology Ripple Tray and catalyst.

The petrochemical complex will be integrated to the existing 15 million tons per year refinery.

Technip will book the contract in the second-quarter order intake of the Technology, Products and Services segment backlog.