Toyo Engineering India Private Limited (Toyo-India, Managing Director Yukihiro Akimoto), a wholly owned subsidiary of Toyo Engineering Corporation (Toyo-Japan), has been awarded a contract by Indian Oil Corporation Limited (IOCL) for the Engineering, Procurement, Construction and Commissioning (EPCC) of a new 2.5 MMTPA Vacuum Distillation Unit (VDU) planned by Indian Oil Corporation Limited (IOCL) in Vadodara, Gujarat, Western India.
IOCL is a largest Public Sector Undertaking governed by the Ministry of Petroleum and Natural Gas (Govt. of India), and Gujarat Refinery is one of India's largest oil refineries. The refinery is currently planning to expand its existing refinery from 13.7 MMTPA to 18 MMTPA, the total investment in this expansion project is more than 300 billion yen, aiming for more efficient refinery operation and high-value-added product production. This project is expected to be completed in the first half of FY 2024.
Toyo-India is currently implementing projects at the Paradip and Barauni Refineries for IOCL. This is the second consecutive order for IOCL, following the Vacuum Gas Oil Hydrotreater Unit at the Panipat refinery.
In India, which has a vast population and huge middle-class population strata that continues to grow, TOYO is committed to contributing to the economic development of the country.
(C) 2022 Electronic News Publishing, source ENP Newswire