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Technip Energies awarded contract for PTA and PX contract from Indian Oil

May 18/2021

MOSCOW (MRC) -- Technip Energies (Paris) has been awarded a large Engineering, Procurement, Construction and Commissioning (EPCC) contract by Indian Oil Corporation Limited (IOCL) for its Para Xylene (PX) and Purified Terephthalic Acid (PTA) complex project at Paradip, Orissa, on the East Coast of India, said Cmenonline.

This EPCC contract covers the delivery of a new PTA plant and associated facilities. PTA is a major raw material used to manufacture polyester fibers, PET bottles and polyester film used in packaging applications. The new PTA plants capacity will be 1.2 million metric tons per year (m.t./yr).

Marco Villa, Chief Operating Officer of Technip Energies commented: We are pleased to be awarded another prestigious contract by Indian Oil Corporation Limited. We look forward to starting this significant project which illustrates our commitment to India a core market for us. It also significantly consolidates our leading position for executing complex petrochemical projects."

Paradip Refinery is the most-modern refinery in India. Its products meet the energy demands of the domestic market and are partly exported. With the aim to create a value chain, Paradip Refinery has ventured into petrochemicals with the production of Polypropylene (PP), Mono Ethylene Glycol (MEG), and is now going into Para Xylene (PX) and Purified Terephthalic Acid (PTA) production. The availability of PTA at Paradip will provide a boost to polyester manufacturing facilities in the vicinity.

As per MRC, Technip Energies (Paris, France) announced that its work on the Azerikimya modernization project in Azerbaijan has been completed on time. The overhaul of the Socar petrochemical complex near the nations capital, Baku, is now complete and the plant has been handed over and is fully in operation. It has been producing ethylene and propylene on demand since October 2020.

According to ICIS-MRC Price Report, demand for preforms in the mid -May was generally good, and consumption of beverages was at a high level during holidays. Contract prices from Russian producers in May were in the range of Rb103,000-117,000/tonne CPT Moscow, including VAT.

Technip Energies has a strong footprint in India and local presence in Delhi, Mumbai, Chennai and Dahej.
Author:Anna Larionova
Tags:PET-granulate, terephthalic acid, Indian Oil Corp, Technip, India.
Category:General News
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