Fabtech bags 3 orders worth Rs 780 crore

March 11, 2010 - PRLog -- Pune: City-based projects and equipment manufacturing company Fabtech Engineers Limited has won contracts worth Rs 780 crore from public sector oil refineries.
   The company, which has been in the business of engineering, procurement, construction and commissioning (EPCC) for oil sector storage projects, will consolidate its position further with these orders and extend its business operations in the area of infrastructure, said executive director R A Rupnar on Monday.
   Rupnar told a media conference that Indian Oil Corporation Ltd. has awarded an EPCC contract worth Rs 395 crore to the company for Tankages, Mounded Bullets and Hydrogen Bullets for its Paradip Refinery in Orissa.
   Hindustan Petroleum has also awarded an EPCC contract to Fabtech in consortium for 300 TPD Sulphur Recovery Unit (SRU) at Vizag Refinery worth Rs 325 crore, Rupnar said. The licensing technology for the SRU has been arranged by Fabtech from an American company well known in the field, he said.
   The third order, worth Rs 60 crore, is from HPCL Marketing Division for Mounded Bullets Projects. “With this, Fabtech has come into the big league of LSTK / EPCC contractors,” he said. Fabtech today has total orders in hand worth Rs 1,250 crore and expect to receive new orders worth Rs 1000 crores in coming six months, Rupnar said.
   “In the backdrop of global warming, environmental emission standards are becoming more stringent day-byday adding to the Oil, Gas and Fertilizer sector business worth Rs 135,000 crore within 3-5 years Fabtech intends to tap this business and is looking to grab a share of Rs 10,000 crore. Additionally, Fabtech expects orders worth Rs 1,000 crore in the infrastructure sector, where it intends to establish its footprint,” Rupnar said. The company is in the process of registering itself as contractors and would initially look at road building projects in Maharashtra, he said.