TOYO and L&T jointly awarded IOC's naphtha cracker project

Toyo Engineering Corporation (TOYO) and Larsen & Toubro Limited (L&T) -India's leading engineering and construction organization, have jointly received a lump-sum contract for the design, procurement of equipment & materials, and construction of a 800,000 tpa naphtha cracker plant for Indian Oil Corporation Limited (IOCL) at Panipat, State of Haryana, India. The plant, scheduled to be complete in Q3-2009 and based on ABB Lummus Global technology will be the largest ethylene plant in India and the first plant in Northern India. Toyo, the leader of the consortium, would undertake work, together with TOYO India, for overall project management and naphtha cracker section, while L&T would undertake work for the cracking heaters and associated units. The receipt of this order is Toyo's 38th ethylene complex project in the world.