The plant will be set up in Barauni, Bihar, in North-Eastern India. The total worth of the contract is nearly $170 million. The field of work includes Construction, Engineering, Procurement, and Commissioning activities up to the Performance Guarantees Test Run.

The new plant's capacity would be 200,000 tons annually, and the schedule of the plant is 30 months from the award date till the Mechanical Completion.

The plant will be part of IOCL’s Barauni Refinery capacity expansion project, which involves the installation of large grassroots units as well as revamps and updates to expand the capacity of the current units.

IOCL made the Barauni Refinery Expansion project a part of its plan to reach the increasing domestic demand for added-value products required to boost the manufacturing industry of the country.

Pierroberto Folgiero, Group Chief Executive Officer, Maire Tecnimont, told the media that it is their sixth strategic EPC contract with IOCL.

Folgiero said that they firmly commit to ensuring environmentally sound performing products and materials and processes.