Technip bids lowest for Panipat refinery HGU

Vol 20, PW 18 (01 Jun 17) News in Brief

Technip looks set to win an IndianOil contract for technology and EPC work to set up a new 44,000 t/y Hydrogen Generating Unit at the 15m t/y Panipat refinery in Haryana.

But only if excluded bidders Linde and ThyssenKrupp don't raise objections. When IOC opened price bids on May 23 Technip bid lowest quoting Rs400cr ($62m) CAPEX followed closely by Heurtey Petrochem at Rs410cr ($64m) and L&T at around Rs500cr ($77m).

Sources say the OPEX quoted by each bidder will now be added to reach a final price but Technip is expected to remain the lowest bidder. Bids were submitted on January 20 by these three companies plus Linde and ThyssenKrupp Industrial Solutions.

IndianOil and project consultant Engineers India then invited Technip, ThyssenKrupp, L&T with Haldor Topsoe and Heurtey on May 12 for a meeting to discuss applicable tax rates and other details before opening price bids. Unclear is why Linde was excluded.

Some speculate the ThyssenKrupp price bid was not opened because its completion schedule did not match IOC's.

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