Technip Energies awarded a significant contract for IOCL’s grassroots naphtha cracking unit at Paradip in India

Technip Energies (PARIS:TE) has been awarded a significant⁽¹⁾ contract by Indian Oil Corporation Limited (IOCL) for the license, basic engineering design package, proprietary equipment and catalyst supply and related services for the 1500 kta⁽²⁾ Paradip naphtha cracker unit (PDNCU) block of the grassroot petrochemical complex in Paradip, India. 

The petrochemical complex will be integrated to the existing 15 million tons/year refinery and will be one of four proposed Petroleum, Chemicals & Petrochemical Investment Regions in India. The petrochemical complex shall include a world-scale cracker unit along with downstream process units producing several petrochemical products.

In addition to the naphtha cracker technology, Technip Energies will provide key proprietary equipment, including proprietary separation trays technology Ripple Tray™ and catalyst. 

Bhaskar Patel, SVP Sustainable Fuels, Chemicals & Circularity at Technip Energies, stated: “We are once again delighted to be entrusted by Indian Oil Corporation Limited for their mega cracker project in Paradip. Our proven ethylene technology and legacy work on mega crackers are important differentiators for our clients. We look forward to delivering this significant project which illustrates our commitment to India.”

(1) A “significant” award for Technip Energies is a contract award representing between €50 million and €250 million of revenue. This award will be booked in Q2 2024 order intake and included in the Technology, Products and Services (TPS) segment backlog.

(2) KTA: kilo tons per annum.

Technip Energies is a leading Engineering & Technology company for the energy transition, with leadership positions in LNG, hydrogen and ethylene as well as growing market positions in blue and green hydrogen, sustainable chemistry and CO₂ management. The Company benefits from its robust project delivery model supported by an extensive technology, products and services offering.

Operating in 34 countries, our 15,000 people are fully committed to bringing our clients’ innovative projects to life, breaking boundaries to accelerate the energy transition for a better tomorrow.

Technip Energies shares are listed on Euronext Paris. In addition, Technip Energies has a Level 1 sponsored American Depositary Receipts (“ADR”) program, with its ADRs trading over the counter.

For further information: www.ten.com

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