The Hindu Business Line : EIL, Punj Lloyd bid for Libya refinery revamp

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EIL and Punj Lloyd are equal partners in the consortium that bid for the engineering, procurement, construction, and management contract. Libya's National Oil Company owns the Azzawiya refinery, now processing about 100,000 barrels per day.

New Delhi , Nov. 22

Engineers India Ltd (EIL) and Punj Lloyd Ltd have made a $1.6-billion joint bid to upgrade and expand Azzawiya refinery in Libya.

Speaking to newspersons Mr Mukesh Rohtagi, Chairman and Managing Director, EIL, on an optimistic note said, "we are awaiting a decision on the same."

EIL, which designs oil refineries and chemical plants, and Punj Lloyd are equal partners in the consortium that bid for the engineering, procurement, construction, and management contract. Libya's National Oil Company owns the Azzawiya refinery, now processing about 100,000 barrels per day. After the upgradation, the capacity at the refinery is likely to go up to 120,000 barrels per day.

Azzawiya Oil Refinery Company, a subsidiary of Libyan National Oil Company, is implementing its revamp and modernisation programme.

"We are supposed to operate the refinery for a period of six-months after completion of the expansion to stabilise it. The refinery will then be handed back to the Libyan company,'' he said. This is part of Libya's $3.5-billion programme aimed at modernising its refinery infrastructure over the next five years.

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