Indian Oil Corporation Awards EPC Contract for $151 Million Refinery Upgrade

SUGAR LAND--July 31, 2008--Researched by Industrial Info Resources (Sugar Land, Texas)--Indian Oil Corporation Limited (BOM:530965) (Mumbai, India) has awarded Punj Lloyd Limited (BOM:532693) (New Delhi, India) an engineering, procurement, and construction contract for a motor-spirit-quality upgrade project at the 65,000-barrel-per-day (BBL/d) Barauni refinery in Bihar, India. The project will help the refinery meet Euro III specifications by reducing sulfur content in gasoline.