13 Nov 2019 | 8:05 PM

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COMPANYNEWS
L&T wins over Rs 7000 crore contract from HPCL
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Published on 10-23-2019
Engineering and construction major Larsen & Toubro on Wednesday said its arm LTHE has won a mega project from Hindustan Petroleum Corporation.


As per the company`s scheme classification the mega project bagged by L&T Hydrocarbon Engineering Ltd (LTHE) is worth over Rs 7000 crore.


The project has to be completed on engineering procurement construction and commissioning (EPCC) basis.


According to a statement by L&T the project is for setting up a residue upgradation facility for Visakh Refinery Modernisation Project at Hindustan Petroleum Corporation Ltd`s (HPCL) Vizag Refinery.


The residue upgradation facility is licensed by Chevron Lummus Global with a capacity of 3.55 MMTPA.


This plant will enable HPCL to convert the heaviest oils into high-quality Euro 6 diesel while simultaneously eliminating fuel oil production as well as increasing feedstock and product flexibility.


This kind of facility is being set up for the first time in India the company said.


The contract is awarded through an international competitive bidding on lump sum turn key basis and is part of HPCL`s ongoing Visakh Refinery Modernisation Project wherein LTHE is already executing two packages.


"L&T has a proven track record of over 25 years in refinery and petrochemical sector and bagging this contract from HPCL reinforces our integrated capabilities in executing critical plants for the sector" Subramanian Sarma MD and CEO LTHE said.


L&T is an Indian multinational engaged in technology engineering construction manufacturing and financial services with over USD 21 billion in revenue. It operates in over 30 countries.