OPaL awards Rs 1,980 cr contracts for polyolefin projects

ONGC Petro additions Ltd (OPaL), a joint venture between Oil and Natural Gas Corporation (ONGC), Gujarat State Petroleum Corporation (GSPC) and Gas Authority of India Ltd (GAIL) awarded two engineering, procurement and construction (EPC) contracts. Tecnimont S.p.A., operating company of Maire Tecnimont S.p.A., and its fully owned arm Tecnimont ICB have won this contract for the realisation of polyolefin plants for polyethylene (PE) and polypropylene (PP) in Dahej, Gujarat.

The two contracts are worth Rs 1,980 crore ($440 million) and cover the implementation of a PP plant of 340 Kty capacity and two HD/LLD Swing PE Plants of 360 Kty capacity each. The Ineos’ Innovene PP process will be used for the Polypropylene plant and the Ineos.

The award followed International Competitive Bidding process where many major EPC contractors participated.

Maire Tecnimont S.p.A. is the parent company of an international engineering and construction group which operates in oil & gas, petrochemicals, power, infrastructure and civil engineering sectors. The Group, quoted on the Milan Bourse, has a workforce of about 5,200 employees. The Group reported revenues worth €2,536 million and net income of €62 million (after minorities), as on December 31, 2010.