Engineers India bags USD 40 mn Oman contract
Posted on Mar 24 2014 | IANS
New Delhi, March 24 : State-run infrastructure company Engineers India Ltd (EIL) Monday said it has bagged a USD 40 million contract for the Liwa Plastics project of Oman Refineries and Petroleum Industries Co (Orpic).
"EIL has been awarded a project management consultancy (PMC) contract by Orpic for their Liwa Plastics Project in Sohar, Oman against international competitive bidding competition from international consultants for an estimated contract value over USD 40 million," the company said in a statement.
Orpic is owned by the government of Oman and the national Oman Oil Company (SAOC).
Liwa Plastics Project comprises a new petrochemical complex adjacent to the Sohar Refinery that will include a 800,000 tonne a year ethylene cracking plant, high density polyethylene (HDPE) plant, linear low density polyethylene plant (LLDPE), new polypropylene plant (PP), associated utility and offsite facilities, EIL said.
The contract scope also includes the gas extraction plant at Fahud as well as transfer of natural gas liquids from Fahud to Sohar, it added.
The project, once commissioned, will enhance both fuel and plastics production in Oman.
EIL shares closed Monday at Rs.199.95 a share, 6.73 percent, or 12.6 points, higher than its previous close on the Bombay stock Exchange (BSE).