L&T to build ethanol reactors for China's Sinopec
06 Dec 2006
Mumbai: Engineering and construction major Larsen and Toubro (L&T) has bagged a multi-million dollar contract to supply three reactors to China Petroleum & Chemical Corporation (Sinopec), the Chinese oil and gas giant, reports quoting industry sources said.
Although details of the deal are not yet known, the contract is expected to be of the order of $85-95 million.
Sinopec, China's second-largest state-run oil and gas firm, is setting up two million-tonne capacity ethanol plants - one each in Tianjin and Zhenhai. These reactors would be critical elements in the company's massive expansion plans. L&T's heavy engineering division and the Tianjin branch of Sinopec have signed an agreement to this effect
The signing of the deal follows the recent visit to India by the president of Sinopec, Tianjin branch, Xu Hong Xing and his talks with L&T top brass in Mumbai.