IOC seeks global BOO bids for Paradip H2, N2 units

08 July 2008 17:51  [Source: ICIS news]

NEW DELHI (ICIS news)--Indian Oil Corp (IOC) on Tuesday invited global pre-qualification bids (PQBs) for setting up hydrogen and nitrogen plants on a build-own-operate (BOO) basis at the proposed Paradip refinery-cum-petrochemical complex.

The deadline for submission of the PQBs is 18 August.

The 73,000 tonne/year hydrogen plant and cryogenic air separation unit (ASU), with capacity to produce 10,000 cubic metres/hour (cm/h) of nitrogen would regularly supply gases to the complex.

The ASU would have additional liquid nitrogen capacity equivalent to 800 cm/h.

An analyst said the outsourcing of industrial gas supply would help the company rein in project costs for phase 1 of  the Paradip Refinery-cum-petrochemical complex, which have shot up to Indian rupees (Rs) 460bn ($10.6bn) from Rs256bn.

IOC recently decided to put on hold the petrochemical segment of phase 1 due to a rise in project cost and due to a liquidity crunch caused by the subsidised sale of petrol, diesel and kerosene & LPG for residential use.

($1 = Rs43.23)

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By: Naresh Minocha
+65 6780 4359

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