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IL&FS Engineering and Construction Company Ltd has received a letter of Intent (LoI) from IPTF, Fujairah, FZC for oil pipeline work at Port of Fujairah for an amount of Rs 71.4 crore, the company said in an announcement on the BSE.
The project is on an Engineering, Procurement and Construction (EPC) basis. The scope of work consists of laying six pipelines from the IPTF terminal at Fujairah to the Port of Fujairah for the evacuation of white oil and black oil products. The project completion date is 12 months from the commencement date.
IL&FS is an infrastructure development, construction and project management company. Shares of the company were up 1.02% at Rs 44.50 on the BSE.
