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

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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. The project will include provide a naphtha hydrotreater unit, reformer unit, gasoline hydrotreater, isomerization unit and supporting off-site utilities. Construction is expected to begin in late 2008 and be complete by mid-2010.

Indian Oil Corporation was formed in 1964 through the merger of Indian Oil Company Limited and Indian Refineries Limited. The company owns and operates 10 of India's 19 refineries with a combined refining capacity of 1.2 million BBL/d. The company is investing in many of its existing refineries and setting up a new refinery to help meet local demand for refined products.

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