Tata Chemicals along with its joint venture partners Singapore-based Olam International and the Government of Gabon have signed the pre-construction services agreement with Technip S.A. for the gas-based urea fertiliser plant in Gabon, Africa.
Gabon Fertiliser Company (GFC), the joint venture company, is setting up a 1.3 million tonnes a year ammonia/urea fertiliser plant, which is expected to be one of the lowest cost producers of urea globally. The selection of Technip marks the first definitive step taken by GFC in the construction the plant.
Technip, which was selected after a competitive bidding and evaluation process, is a world leader in project management, engineering and construction in the energy and chemical industry.
Technip targets to complete both the front-end engineering and design and project cost within seven months and thereafter achieve the commercial production of urea within 31 months.
Tata Chemicals in April acquired 25.10 per cent stake for Rs 1,300 crore in the stream-I of the port-based Greenfield project with Olam owning 62.90 per cent and Republic of Gabon holding the rest. The project will use natural gas as feedstock to be supplied at competitive price by the Gabon Government. GFC has chosen the convertible lump sum turnkey methodology to ensure that the project is implemented within the best time and cost norms of the industry.
| Company Name | CMP |
|---|---|
| BASF India | 3415.65 |
| Tata Chemicals | 719.40 |
| SRF | 2704.90 |
| Pidilite Inds. | 1476.50 |
| Deepak Nitrite | 1679.40 |
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