MILAN, Dec. 21 (Class Editori) - Maire Tecnimont, through its Indian subsidiary Tecnimont Private Limited, has won a EPCC Lump Sum tender by the Indian Oil Corporation Limited (IOCL), in order to build new units for the production of acrylic acid, BA and petrochemical derivates which are needed to obtain high added-value products addressed to the chemical market.
The units will be built in Dumad, near Vadodara, in the Gujarat state, India. The contract is worth about $255 billion in overall. The project goal involves Engineering, Procurement, Construction and Commissioning activities, as well as Performance Guarantees Test Run.
Once completed, the new unit to produce acrylic acid will rely on a capacity of 90,000 tons per year, while the BA unit will have a capacity of 150,000 tons per year. The project will be carried out in 26 months.
In India, Maire Tecnimont is the main Italian group, with a strong market positioning which has led it to recently work for other important local groups, such as Hindustan Petroleum Corporation, an Indian oil company in which the government owns a shareholding, Mittal Energy Investment, a subsidiary of Mittal Group, and Reliace. The latter has awarded 4 projects to Maire Tecnimont in the past 5 years.
The key success factor of the group led by the CEO Pierroberto Folgiero is the fact of being an Italian-Indian company with a technological DNA, which can count on the international network of the group Maire Tecnimont and play a leading role in the local market at the same time.
Currently, Tecnimont PL relies on more than 2,000 engineers and coordinates 4,000 specialists employed for the electro-instrumental installation activities in the headquarters of Mumbai. It is thanks to this driving force that Tecnimont PL is able to develop between 2 and 3 million of man-hours on average, by working on engineering services every year; these are equal to about two third of the engineering man-hours of the group in overall.
So far, it has carried out over 400 projects in the manufacturing field (chemical and petrochemical, fertilizers, refineries, power and oil&gas) and records an annual turnover higher than $100 million. The acquisition of the entire capital was fulfilled in 2008, at the end of a takeover which had started in the second half of the nineties.
Tecnimont PL has been active in India since 1958 and, in the years, it has gained a significant experience in design activities and in the realization of feasibility studies; then, it entered the petrochemical segment with the first project for engineering services addressed to the establishment of a methanol plant in 1973.
The record track in the oil & gas industry has then been strengthened in the years, and Tecnimont PL became therefore a reference player for the engineering services both at a local and international level. Since it has joined the Maire Tecnimont group, it has started an internal growth path thanks to strong investments in training, technology and systems and, especially, a decisive and continuous process of integration in the already active operations of the group.
Therefore, it has become an entity fully integrated in the global network of the group's operational centres. From a low-cost engineering hub, Tecnimont has turned into a centre of excellence for engineering services and an EPC contractor (engineering, procurement, construction) in the past 20 years, with performances only comparable to the best international engineering companies. (All rights reserved)
(Source:Class Editori)
Notice: No person, organization and/or company shall disseminate or broadcast the above article on Xinhua Silk Road website without prior permission by Xinhua Silk Road.
A single purchase
