Joined: 05 Oct 2005
Posts: 315
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Engineers India (EIL) and Punj Lloyd have made a USD 1.6 billion joint bid for the revamp of the Azzawiya refinery in Libya, reports Business Standard.
Mukesh Rohtagi, chairman & managing director of EIL, (Q, N,C,F)* said that they are the sole bidders and a decision is expected within a few months. Azzawiya is owned by Libya`s state-run National Oil Corp and currently processes 1,00,000 barrels per day. The Libyan government plans to increase the capacity at the refinery to 122,800 barrels per day, work for which is expected to begin early next year. Rohtagi said EIL and Punj Lloyd would share a 50:50 partnership in the consortium and had bid for the engineering, procurement, construction and management contract. They are supposed to operate the refinery for a period of 6-months after completion of the expansion to stabilize it, which will be then handed back to the Libyan company. The Azzawiya Oil Refinery (ARC), the second largest oil refinery in Libya, is considering the installation of a new residual fluidized catalytic cracker unit; Methyl tertiary butyl ether (MTBE) facilities and an additional sulfur treatment plant. This is part of Libya`s USD3.5-billion programme aimed at modernizing its refinery infrastructure over the next 5 years. Source: IRIS NEWS DIGEST (22 November 2006) |
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