Toyo wins EPC tender for Mundra

Vol 17, PW 13 (13 Feb 14) News in Brief

Toyo has emerged the lowest bidder to set up regasification facilities at GSPC LNG’s Rs5000cr ($1bn) Mundra LNG terminal.

When GSPC opened price bids on February 7 it discovered Toyo had quoted $267m. Taiwan’s CTCI quoted $270m and a consortium of France’s Technip, Technip India and AFCONS quoted $273m.

Japan’s IHI and a consortium of Samsung Engineering and Punj Lloyd also submitted bids but their quotes are unavailable. On February 11 the GSPC LNG board gave its approval to award the contract.

GSPC will award the LoA in about a week. GSPC won vital approval for the LNG project last month (January) from the environment ministry's feared Expert Appraisal Committee (EAC).

GSPC subsidiary GSPC LNG (50%) shares the Mundra project with Adani Group (25%). Toyo was also lowest bidder last month to set up regasification facilities as part of a planned expansion at Petronet-LNG's Dahej LNG terminal, quoting $124m.