Larsen & Toubro’s (L&T) energy business has secured an engineering, procurement, construction and commissioning contract worth Rs 25 billion-Rs 50 billion from IOCL for developing a residue hydrocracker unit for the latter’s Panipat refinery. IOCL intends to expand the refining capacity at this refinery from 15 million tonnes per annum (mtpa) to 25 mtpa, to meet the growth in demand for petroleum products and increase its revenue as well as profitability.
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