IOC seeks alliances for $15.7bn petchem projects

12 October 2007 17:02  [Source: ICIS news]

NEW DELHI (ICIS news)--Indian Oil Corporation (IOC) intends to enter into a strategic alliance with one or more global engineering majors, a company official said on Friday.

 

The strategic alliance agreement would provide IOC with project management services (PMS) for its refinery and petrochemical projects costing $15.7bn (€11.1bn).

 

The IOC official said that the company was soliciting global expression of interest (EOI) from project management consultants and engineering construction and commissioning contractors for entering into tie-ups for three or more years.

 

The services provided by the alliance partners include: preparation of feasibility and detailed project reports, procurement services for long-delivery equipment, process studies, project management services, front-end engineering & design of plants, basic and detailing engineering and construction management services.

 

IOC would pay for specific assignments to the alliance partner on the basis of rates to be finalised later with companies to be short-listed from the ones that submit offers.

 

The last date for submission of EOIs along with a reply to a questionnaire is 26 October.

 

($1 = €0.70)

By: Naresh Minocha
+65 6780 4359

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