New Delhi: Engineering and construction major Larsen & Toubro on Wednesday said its arm LTHE has won a megaproject 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 7,000 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 up-gradation facility for Visakh Refinery Modernisation Project at Hindustan Petroleum Corporation Ltd's (HPCL) Vizag Refinery.
The residue up-gradation 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 international competitive bidding on lump-sum turnkey 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 $21 billion in revenue. It operates in over 30 countries.
Find latest and upcoming tech gadgets online on Tech2 Gadgets. Get technology news, gadgets reviews & ratings. Popular gadgets including laptop, tablet and mobile specifications, features, prices, comparison.
Updated Date: Oct 23, 2019 14:18:27 IST