The Indian Oil Corporation (IOCL) has placed USD 255 million contract on Tecnimont, the Indian entity of Italian firm Tecnimont, for implementation of new acrylic acid and butyl acrylate units for production of high value-added products for the chemical market.
As per the lump sum contract for engineering, procurement, construction and commissioning, (EPCC) the units will be located in Dumad, near Vadodara in Gujarat.
Once commissioned, the acrylic acid unit will have a capacity of 90,000 tpa, while the new butyl acrylate unit will have a capacity of 1,50,000 tpa.
The time schedule is 26 months for mechanical completion.