There are petrochemicals in Gujarat

Maire Tecnimont strengthens petrochemicals business in India with EPCC flat-rate contract worth around USD 255 million

MILAN, Feb. 23 / PRNewswire / -EPCC order the Indian Oil Corporation Limited (IOCL) to build new petrochemical derivatives units in Dumad in the western Indian state of Gujarat

Tecnimont Private Limited, the Indian company of Tecnimont SpA, will execute the contract as the sole responsible body

Maire Tecnimont S.p.A. announces that its subsidiary Tecnimont SpA, through its Indian company Tecnimont Private Limited, has won a EPCC flat-rate contract (Engineering, Procurement, Construction and Commissioning, German detailed planning and control, procurement, execution of construction and assembly work) by the Indian Oil Corporation Limited (IOCL) for the implementation of new acrylic acid and butyl acrylate units to manufacture relevant products with high added value for the chemical market. The units will be set up in Dumad near Vadodara in the Indian state of Gujarat.

The total value of the contract is around $ 255 million. The scope of the project includes detailed planning and control, procurement, execution of construction and assembly work as well as the test run for performance guarantees. After completion, the new acrylic acid unit will have a capacity of 90,000 tons per year, the new butyl acrylate unit will have a capacity of 150,000 tons per year. The mechanical completion schedule is 26 months.

Pierroberto Folgiero, CEO of the Maire Tecnimont Group, explained: "Following the recent announcement of the letter of intent with the IOCL to support the industrialization of green chemistry and the circular economy in India, we are cementing a strategic relationship with such a prominent customer in the petrochemicals business. Thanks to our technology-driven strategy, thanks to the growing demand for petrochemical products again seize opportunities in a market with a promising downstream investment cycle, in line with the Government of India's strategic vision to maximize "In Country Value", our Indian company will be the sole responsible body and will use its extensive skills in managing major prove complex projects again. "

Maire Tecnimont S.p.A., is listed on the Milan Stock Exchange and is at the head of an industrial group that is a leader in the processing of natural resources (downstream systems engineering with technological and practical expertise). NextChem is active in the field of technologies to promote the energy transition. The Maire Tecnimont Group is represented in 45 countries with 50 companies and employs around 9,100 people. www.mairetecnimont.com.

Logo - https://mma.prnewswire.com/media/1322292/Maire_Tecnimont_Logo.jpg

Inquiries & contact:

Tommaso Verani
+39 366 6494966

Claudia Ciccarone +39 348 7713059

[email protected]