Engineers India said that it has bagged a contract worth Rs 106.5 crore from Indian Oil Corporation for providing project management consultancy services.
Under this contract, EIL will provide phase-I of project management/managing project management consultancy (MPMC) services for the overall Paradip Petrochemical Complex (PDPC) Project at Paradip, Odisha.
Additionally, EIL will also provide project management consultancy (PMC-2) services for specific units within the project, including the propylene plant (PP), isopropyl alcohol (IPA) unit, ethylene dichloride/vinyl chloride monomer (EDC/VCM) units, and offsites and utilities (O&U).
The contract has to be executed within a period of 10 months.
Indian Oil Corporation is an Indian government owned oil and gas explorer and producer. As of 31st December 2024, the Government of India held 51.50% stake in the company.
The companys standalone net profit declined 64.36% to Rs 2,873.53 crore in Q3 FY25 as compared with Rs 8063.39 crore in Q3 FY24. Revenue from operations fell 2.61% YoY to Rs 193,899.50 crore during the quarter as compared with Rs 199,103.97 crore in Q3 FY24.
The scrip was down 0.09% to currently trade at Rs 168.25 on the BSE.
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