Thyssenkrupp Industrial Solution bags $100 mn contract from IOC Panipat

Thyssenkrupp Industrial Solution India, a unit of the German engineering major, on Wednesday said it bagged a USD 100-million order from Indian Oil Corporation to build a polybutadiene rubber plant at Panipat refinery complex in Haryana.

Polybutadiene rubber is manufactured from the polymerization of butadiene and has applications in manufacturing tyres and additives.

Thyssenkrupp Industrial Solutions will execute this project, with 60 kilo tonne per annum capacity, based on technology from a reputed licensor, the company said.

The lump-sum EPC (engineering, procurement and construction) scope includes residual process engineering, detail engineering, project management, procurement, construction & commissioning of the plant, Rajesh Kamath, chief executive of Thyssenkrupp Industrial Solutions' chemical plant business said.

Thyssenkrupp Industrial Solutions is into petrochemical and refinery, fertilizers, chlor-alkali, green chemicals, cryogenic storages etc. and has executed multiple refineries and petrochemical projects for IOC across its refineries.

At present, apart from other contracts being executed on EPCM and PMC models, it is also implementing the n-butanol project and catalytic dewaxing project on EPC basis for IOC's Gujarat refinery.

The company has executed over 850 projects in the past four decades on various modalities.