L&T bags Rs.576 crores order from HPCL for new plant
31 Mar 2008
The engineering and construction division of engineering and construction major Larsen & Toubro has been awarded a Rs 576-crore contract to build a new lube oil base stock plant by Hindustan Petroleum Corporation Ltd (HPCL).
The refinery projects business unit will implement the 200,000 tonnes per annum plant comprising a raffinate hydro treating unit (RHT), mobil selective de-waxing unit (MSDW) and hydro finishing unit (HF).
This plant would enable HPCL to produce higher value-added petroleum products like Group II and Group III lubricating oils, the company said in the statement.
HPCL, which operates refineries located at Mahul, Mumbai, intends to set up this lube oil base stock plant as a part of their quality up-gradation project and has awarded the order on lump-sum turnkey basis to L&T.
L&T has engaged Jacobs Engineering India to provide services for project management consultancy while ExxonMobil Research and Engineering, US is the process licensor.
The scope of work in this contract includes residual process design, detailed engineering, procurement, supply, transportation, storage, fabrication, inspection, construction, installation, testing, mechanical completion, pre-commissioning, commissioning and performance guarantee test runs for the project.
L&T's shares ended 3.89 per cent down at Rs.3024.80 on the BSE at close of trading today. This was not entirely unexpected on a day the benchmark Sensex tanked over 700 points.
