Technip awarded contract for one of the largest ethylene crackers in the world
Wednesday, Jul 04, 2012
Technip was awarded by Reliance Industries Limited (RIL) a license, supply of basic engineering package and an engineering and procurement services contract for the Refinery Off-Gas Cracker (ROGC) plant. This contract is part of the expansion project being executed at RIL’s world-scale Jamnagar refining and petrochemical complex in Gujarat, on the West coast of India.
The ROGC plant will be among the largest ethylene crackers in the world and will be integrated to RIL’s Jamnagar refinery complex, using refinery off-gas as feedstock. The products from that plant will be utilized as feedstock for the new downstream petrochemical plants.
The ROGC plant will utilize Technip’s ethylene technology, including its proprietary SMK®(1) furnaces technology, one of the major cornerstones of the Technip's ethylene know-how.
Nello Uccelletti, Senior Vice President of Technip Onshore Business commented: “Technip is one of the largest experienced contractor on licensing, designing and implementing grassroot mega-crackers for ethylene production. This contract reinforces our position as a major player in this field. We are delighted to work with RIL to deliver this world-scale project.”
Jean-Marc Aubry, Senior Vice President of Technip Region A(2) stated: “This award is a significant milestone for Technip in India. Thank to this project, we hope to develop a long-term relationship with RIL for future developments in both onshore and other businesses.”
Technip is a world leader in project management, engineering and construction for the energy industry.
From the deepest Subsea oil & gas developments to the largest and most complex Offshore and Onshore infrastructures, our 30,000 people are constantly offering the best solutions and most innovative technologies to meet the world’s energy challenges.
Present in 48 countries, Technip has state-of-the-art industrial assets on all continents and operates a fleet of specialized vessels for pipeline installation and subsea construction.
Technip shares are listed on the NYSE Euronext Paris exchange and the USA over-the-counter (OTC) market as an American Depositary Receipt (ADR: TKPPK).
Reliance Industries Limited (RIL) is India’s largest private sector company on all major financial parameters with a turnover of INR 339,792 crore (US$ 66.8 billion), cash profit of INR 31,994 crore (US$ 6.3 billion) and net profit of INR 20,040 crore (US$ 3.9 billion) as of March 31, 2012.
RIL is the first private sector company from India to feature in the Fortune Global 500 list of 'World's Largest Corporations' and ranks 119th amongst the world's Top 200 companies in terms of profits. RIL ranks 68th in the Financial ‘Times FT Global 500’ list of the world's largest companies. RIL is ranked amongst the ’50 Most Innovative Companies - 2010' in the World in a survey conducted by the US financial publication - Business Week in collaboration with the Boston Consulting Group (BCG). In 2010, BCG also ranked RIL as the second highest ‘Sustainable Value Creators’ for creating the most shareholder value over the decade in the world.