L&T Hydrocarbon Engineering Limited (LTHE), a wholly owned subsidiary of Larsen & Toubro, has been awarded a mega project by Hindustan Petroleum Corporation Limited (HPCL).
The engineering, procurement, construction and commissioning (EPCC) contract is for setting up a Residue Upgradation Facility (RUF), EPCC-03 Package for Visakh Refinery Modernisation Project (VRMP) at HPCL's Vizag Refinery. The RUF plant is licensed by Chevron Lummus Global (CLG) with a capacity of 3.55 MMTPA.
This plant will enable HPCL to convert the heaviest oils into high-quality Euro 6 diesel while simultaneously eliminating fuel oil production, as well as increasing feedstock and product flexibility. The unit is being implemented for the first time in India.
The contract is awarded through an international competitive bidding on Lump Sum Turn Key (LSTK) basis and is part of HPCL's ongoing Visakh Refinery Modernisation Project wherein LTHE is already executing two packages, namely Crude Distillation Unit / Vacuum Distillation Unit and Full Conversion Hydrocracker Unit.
The new award demonstrates HPCL's trust on LTHE's capability to deliver complex process plants within a challenging schedule and with excellent safety and quality performance.
Mr. Subramanian Sarma, MD and CEO, LTHE said, "L&T has a proven track record of over 25 years in the refinery and petrochemical sector and bagging this contract from HPCL reinforces our integrated capabilities in executing critical plants for the sector." Organized under Offshore, Onshore, Construction Services, Modular Fabrication and Engineering Services verticals, LTHE delivers 'design to build' engineering and construction solutions across the hydrocarbon spectrum.
Shares of LARSEN & TOUBRO LTD. was last trading in BSE at Rs.1441.9 as compared to the previous close of Rs. 1448.05. The total number of shares traded during the day was 122528 in over 4681 trades.
The stock hit an intraday high of Rs. 1466.95 and intraday low of 1438.65. The net turnover during the day was Rs. 178301170.