PARIS--(BUSINESS WIRE)--
Regulatory News:
Technip Energies (PARIS:TE) has been awarded a large(1) Engineering, Procurement, Construction and Commissioning (EPCC) contract by Indian Oil Corporation Limited (IOCL) for its Para Xylene (PX) and Purified Terephthalic Acid (PTA) complex project at Paradip, Orissa, on the East Coast of India.
This EPCC contract covers the delivery of a new 1.2 MMTPA(2) PTA plant and associated facilities. PTA is a major raw material used to manufacture polyester fibers, PET bottles and polyester film used in packaging applications.
Marco Villa, Chief Operating Officer of Technip Energies commented: “We are pleased to be awarded another prestigious contract by Indian Oil Corporation Limited. We look forward to starting this significant project which illustrates our commitment to India – a core market for us. It also significantly consolidates our leading position for executing complex petrochemical projects.”
Paradip Refinery is the most-modern refinery in India. Its products meet the energy demands of the domestic market and are partly exported. With the aim to create a value chain, Paradip Refinery has ventured into petrochemicals with the production of Polypropylene (PP), Mono Ethylene Glycol (MEG), and is now going into Para Xylene (PX) and Purified Terephthalic Acid (PTA) production. The availability of PTA at Paradip will provide a boost to polyester manufacturing facilities in the vicinity.
Technip Energies has a strong footprint in India and local presence in Delhi, Mumbai, Chennai and Dahej.
(1) For Technip Energies, a “large” contract is between €250 million and €500 million.
(2) Million Tons Per Annum
To understand more about Technip Energies refining and petrochemicals capabilities:
We are known as a world-class player in the refining industry - from conceptual design to turnkey delivery - our services cover the entire value chain for refining projects and integrated petrochemical complexes.
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About Technip Energies
Technip Energies is a leading Engineering & Technology company for the energy transition, with leadership positions in Liquefied Natural Gas (LNG), hydrogen and ethylene as well as growing market positions in blue and green hydrogen, sustainable chemistry and CO2 management. The company benefits from its robust project delivery model supported by extensive technology, products and services offering.
Operating in 34 countries, our 15,000 people are fully committed to bringing our client’s innovative projects to life, breaking boundaries to accelerate the energy transition for a better tomorrow.
Technip Energies is listed on Euronext Paris with American depositary receipts (“ADRs”) trading over-the-counter in the United States. For further information: .
Important Information for Investors and Securityholders
Forward-Looking Statement
This release contains “forward-looking statements” as defined in Section 27A of the United States Securities Act of 1933, as amended, and Section 21E of the United States Securities Exchange Act of 1934, as amended. Forward-looking statements usually relate to future events and anticipated revenues, earnings, cash flows or other aspects of Technip Energies’ operations or operating results. Forward-looking statements are often identified by the words “believe,” “expect,” “anticipate,” “plan,” “intend,” “foresee,” “should,” “would,” “could,” “may,” “estimate,” “outlook,” and similar expressions, including the negative thereof. The absence of these words, however, does not mean that the statements are not forward-looking. These forward-looking statements are based on Technip Energies’ current expectations, beliefs and assumptions concerning future developments and business conditions and their potential effect on Technip Energies. While Technip Energies believes that these forward-looking statements are reasonable as and when made, there can be no assurance that future developments affecting Technip Energies will be those that Technip Energies anticipates.
All of Technip Energies’ forward-looking statements involve risks and uncertainties (some of which are significant or beyond Technip Energies’ control) and assumptions that could cause actual results to differ materially from Technip Energies’ historical experience and Technip Energies’ present expectations or projections. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those set forth in the forward-looking statements. For information regarding known material factors that could cause actual results to differ from projected results, please see Technip Energies’ risk factors set forth in Technip Energies’ filings with the U.S. Securities and Exchange Commission, which include amendment no. 4 to Technip Energies’ registration statement on Form F-1 filed on February 11, 2021.
Forward-looking statements involve inherent risks and uncertainties and speak only as of the date they are made. Technip Energies undertakes no duty to and will not necessarily update any of the forward-looking statements in light of new information or future events, except to the extent required by applicable law.
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