Petron Engineering bags Rs 84 crore contract from Bharat Oman Refineries
Petron Engineering Construction has bagged a Rs 84.27 crore contract from Bharat Oman Refineries for mechanical work at Bina Refinery in Madhya Pradesh.
By PTI |
MUMBAI: Petron Engineering Construction on Monday said it has bagged a Rs 84.27 crore contract from Bharat Oman Refineries (BORL) for mechanical work at Bina Refinery in Madhya Pradesh.
Petron Engineering has received a Letter of Intent from BORL for mechanical works at the Bina Refinery site, Petron said in a filing to the Bombay Stock Exchange.
BORL, which is setting up the Rs 10,400 crore Bina refinery, is a joint venture of Bharat Petroleum Corp Ltd (BPCL) and Oman Oil Company.
Last month BPCL had filed a Draft Red Herring Prospectus for the initial public offering of the joint venture with market regulator Sebi.
BORL intends to raise Rs 3,850 crore equity for the six-million-ton a year refinery project at Bina. This equity includes contribution by BPCL, Madhya Pradesh government and the public.
The refinery is designed to have a crude oil processing capacity of six million tons per annum and a higher complexity factor of 9.1, as measured using the Nelson Complexity Index.
The project also includes a crude oil importing and storage system in Vadinar in Gujarat, consisting of a single-point mooring facility that can receive crude oil shipments from very large crude carriers in sizes of up to 320,000 dead weight tonnage and a crude oil terminal with a capacity of 4,80,000 cubic metres.
The crude oil terminal will be connected to the refinery through an approximately 935 kilometre long crude oil supply pipeline.
Shares of Petron were trading at Rs 212, up 1.48 per cent in the afternoon trading session on the BSE.
Petron Engineering has received a Letter of Intent from BORL for mechanical works at the Bina Refinery site, Petron said in a filing to the Bombay Stock Exchange.
BORL, which is setting up the Rs 10,400 crore Bina refinery, is a joint venture of Bharat Petroleum Corp Ltd (BPCL) and Oman Oil Company.
Last month BPCL had filed a Draft Red Herring Prospectus for the initial public offering of the joint venture with market regulator Sebi.
BORL intends to raise Rs 3,850 crore equity for the six-million-ton a year refinery project at Bina. This equity includes contribution by BPCL, Madhya Pradesh government and the public.
The refinery is designed to have a crude oil processing capacity of six million tons per annum and a higher complexity factor of 9.1, as measured using the Nelson Complexity Index.
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The project also includes a crude oil importing and storage system in Vadinar in Gujarat, consisting of a single-point mooring facility that can receive crude oil shipments from very large crude carriers in sizes of up to 320,000 dead weight tonnage and a crude oil terminal with a capacity of 4,80,000 cubic metres.
The crude oil terminal will be connected to the refinery through an approximately 935 kilometre long crude oil supply pipeline.
Shares of Petron were trading at Rs 212, up 1.48 per cent in the afternoon trading session on the BSE.
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