Press release | May 22, 2018
TechnipFMC Awarded Contracts for Two Fertilizer Plants in India
LONDON & PARIS & HOUSTON--(BUSINESS WIRE)-- TechnipFMC* (Paris:FTI) (NYSE:FTI) (ISIN:GB00BDSFG982), in consortium with L&T Hydrocarbon Engineering (LTHE), a wholly owned subsidiary of Larsen & Toubro Limited, has been awarded by Hindustan Urvarak and Rasayan Limited (HURL) - a Joint Venture Company of three Indian Public Sector Companies, IOCL, NTPC and CIL - major Engineering, Procurement, Construction and Commissioning (EPCC) contracts for two state-of-the-art, natural gas based fertilizer complexes in Eastern India. The two fertilizer plants, located at Barauni in the state of Bihar and in Sindri in the state of Jharkhand, are each capable of producing 2200 TPD** ammonia and 3850 TPD urea.
Both projects are executed on EPCC Lump Sum Turn Key (LSTK) basis and shall be carried out concurrently. The Consortium, under the leadership of TechnipFMC, is responsible for licensing, basic engineering, detailed engineering, construction and commissioning of the two complexes within a period of 36 months.
Nello Uccelletti, President of Onshore/Offshore business at TechnipFMC, said: “We are honored to be entrusted the execution of these prestigious projects in consortium with LTHE which demonstrates our long-term commitment to India and strengthens our leadership in executing challenging projects in fertilizers, refinery and petrochemical sectors. The project is of great national importance to India to address the demand of Urea in domestic market and thereby, boosting the economic growth of the country”.
*France and India operating centers of TechnipFMC will work
closely with HURL on this project
*TPD - Tonnes Per Day
Important Information for Investors and Securityholders
This release contains "forward-looking statements" as defined in Section 27A of the United States Securities Act of 1933, as amended, and Section 21E of the United States Securities Exchange Act of 1934, as amended. The words “estimated”, “aimed”, “scheduled” and similar expressions are intended to identify forward-looking statements, which are generally not historical in nature. Such forward-looking statements involve significant risks, uncertainties and assumptions that could cause actual results to differ materially from our historical experience and our present expectations or projections. Known material factors that could cause our actual results to differ from those in the forward-looking statements include the Company's ability to successfully deliver, and HURL’s acceptance of, the products ordered. For additional information regarding known material factors that could cause actual results to differ from projected results, please see our risk factors set forth in our filings with the United States Securities and Exchange Commission, which include our Registration Statement on Form S-4, Annual Reports on Form 10-K, Quarterly Reports on Form 10-Q and Current Reports on Form 8-K.
We caution you not to place undue reliance on any forward-looking statements, which speak only as of the date hereof. We undertake no obligation to publicly update or revise any of our forward-looking statements after the date they are made, whether as a result of new information, future events or otherwise, except to the extent required by law.
Hindustan Urvarak & Rasayan Limited (HURL) is a joint venture company by three strong Indian Public companies namely, Indian Oil Corporation Limited (IOCL), Coal India Limited (CIL) and NTPC Limited (NTPC) as the lead promoters with Fertilizer Corporation of India Limited (FCIL) and Hindustan Fertilizer Corporation Limited (HFCL) as other two partners.
About Larsen & Toubro
Larsen & Toubro is a USD 17 Billion technology, engineering and construction group, with global operations. It is one of the largest and most respected companies in India’s private sector.
L&T, through its 100% owned subsidiary LTHE, undertakes turnkey construction of fertilizer, refinery and petrochemical plants; cross-country pipelines and oil & gas terminals covering civil, structural, piping equipment, heavy lifts, electrical and instrumentation work.
TechnipFMC is a global leader in subsea, onshore/offshore, and surface projects. With our proprietary technologies and production systems, integrated expertise, and comprehensive solutions, we are transforming our clients’ project economics.
We are uniquely positioned to deliver greater efficiency across project lifecycles from concept to project delivery and beyond. Through innovative technologies and improved efficiencies, our offering unlocks new possibilities for our clients in developing their oil and gas resources.
Each of our more than 37,000 employees is driven by a steady commitment to clients and a culture of purposeful innovation, challenging industry conventions, and rethinking how the best results are achieved.
To learn more about us and how we are enhancing the performance of the world’s energy industry, go to TechnipFMC.com and follow us on Twitter @TechnipFMC.
Matt Seinsheimer, +1 281 260 3665
Vice President Investor Relations
Phillip Lindsay, +44 203 429 3929
Director Investor Relations Europe
Christophe Belorgeot, +33 1 47 78 39 92
Vice President Corporate Communications
Delphine Nayral, +33 1 47 78 34 83
Senior Manager Public Relations