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AFCONS led consortium signs agreement with ONGC for HRD Process Platform


ONGC has recently awarded HRD (HEERA REDEVELOPMENT) Process Platform Contract to the Consortium led by AFCONS Infrastructure Ltd., (A Shapoorji Pallonji Group Company). The other members are Technip KT India Ltd., (Part of a global conglomerate Technip, France) and THHE Malaysia.  The agreement was signed on 18th January, 2013.

Awarded value of this EPIC (Engineering, Procurement, Installation and Commissioning) Project is US $ 290 Million with a demanding completion schedule of about 28 months.  AFCONS led consortium bagged this job in an International Competitive Bidding.

The Process Platform is having well fluid processing capacity of 55000 Barrels per day and gas compression of 3.2 million Cubic Meters per day. The major fabrication works would be undertaken at PTSE yard in Vietnam and NPCC yard in Abu Dhabi.  Kawasaki Heavy Industries (KHI), Japan are the suppliers of Gas Compression System.

Since inception of ONGC, only 17 Process Platforms have been made in the country and earlier Process Platforms of US $ 366 Million was executed successfully by AFCONS, the first time entrant into the Offshore market at that time, through a Joint Venture with M/s.Gunanusa of Indonesia.

The current Process Platform is using a non conventional approach for installing the Platforms by float-over method, which though globally accepted, will be for the second time in Indian waters. M/s.Technip, France, a consortium partner, is a World leader in this technology.

By bagging this job immediately, on completion of ICPR Process Platform, AFCONS have conveyed to the Oil & Gas Industry that they are a serious player in the offshore market for long times to come.

AFCONS Infrastructure Limited is a part of Shapoorji Pallonji Group which is the third largest construction group in India with a group turnover in excess of `120 billion.

M/s.Technip a French Company is one of the leading global players in Oil & Gas sector with specific focus on Offshore and LNG market.

Comments

  1. The Head MasterFebruary 8, 2013 at 3:41 PM

    Hi,

    I understand your concern. It is not expected from a company like Bajaj Finance to do such a thing, however, i am sure now a days its a practice the finance providing company insures the amount they loan to customers, which customer pays for...I suggest you need to cross check the facts with them again...

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