Essar Projects bags $54 million contract from Saudi Aramco

Essar Projects today said it has bagged a $54 million (over Rs 328 crore) maiden contract from Saudi Arabian national oil company Saudi Aramco.

"The $54-million EPC project involves the upgradation of a Crude Stabilization Unit at Aramco's Abqaiq Plant, in Shaybah, one of the largest oilfields in the world," the company said in a statement here.

The scope of work entails engineering, procurement and construction of a crude tank, replacement of crude pumps and associated civil, piping, electrical and instrumentation facilities. The project is scheduled to be completed in 29 months.

The Hydrocarbon SBU of Essar Projects, a global engineering, procurement, construction (EPC) contractor, has secured the contract from Saudi Aramco.

The company is already executing five other projects in the region in the hydrocarbon sector.

Essar Projects, CEO-Hydrocarbon SBU, Amit Gupta said: "This contract is a reflection of our capability to undertake global projects from reputed clients in this region. We will leverage the capabilities gained to enhance our foot print in other Middle East countries."

The company has experience in refinery projects having previously executed a world-scale grass-roots refinery at Vadinar, Gujarat, with an initial capacity of 10 million tons per annum, which was gradually expanded to 14 million tons and then 20 million tons.

It also executed the supporting infrastructure and facilities that include SBM for crude unloading, product jetty for refinery product export, a tank farm with total tankage of 3 million cubic metres for crude, products and intermediate and 77 MW of captive power plant.