Foster Wheeler Ltd. announced Friday that two of its subsidiaries, Foster Wheeler Energy Ltd. and Foster Wheeler India Private Ltd,. have received service contracts by Indian Oil Corp Ltd. (IOCL) for the Paradip Refinery Project.
The Paradip Refinery Project is anticipated to be one of the largest integrated refinery petrochemicals complexes in India and will be built in Orissa State.
Financial terms of the contracts were not disclosed.
Foster Wheeler will be part of the front-end engineering design, preparation of cost estimates and overall project strategy and supervision of early works on site and the financial investment decision, which is planned for mid-2008.
The refinery will have a crude processing capacity of 15 million tons per annum (TPA) and include a fluidized catalytic tracking unit, aromatics complex and a polypropylene unit.
Approximately 700,000 TPA of polypropylene, 1.2 million TPA of paraxylene, 600,000 TPA of styrene monomer and 10.5 million TPA of refined petroleum products will be produced at the new complex.