Indian Oil awards $255 million contract to Tecnimont Private Limited

January 17, 2021

Indian Oil Corporation Limited has awarded a $255 million contract to Tecnimont Private Limited, the Indian entity of Italian firm Tecnimont SpA, for the setting up of new acrylic acid and butyl acrylate production units. Tecnimont SpA is a subsidiary of Maire Tecnimont SpA listed on the Milan Stock Exchange. As per the lump sum contract for engineering, procurement, construction and commissioning, the units will be located in Dumad, near Vadodara, in Gujarat. Once commissioned, the new acrylic acid unit will have a capacity of 90,000 tonnes per annum (tpa), while the new butyl acrylate unit will have a capacity of 150,000 tpa. The time schedule for mechanical completion is 26 months.