Afcons bags US$366 mn ONGC contract
Afcons Infrastructure Ltd. (Afcons), the infra arm of Shapoorji Pallonji Group, has forayed into the offshore oil & gas segment. A joint venture of Afcons – Gunanusa (an Indonesian company) has bagged the job of offshore platform for ONGC at a value of US$366 million. The project is expected to be completed by April 2011. Afcons is also in the process of establishing an Oil & Gas Fabrication Yard at Mahuva in Gujarat.
The scope of work includes setting up the ICP-R Process Platform with a bridge connected to ICG existing complex, a flare tripod, laying 1.2 km of submarine pipelines and modification / integration with the ICP and ICG platforms.
K Subrahmanian, MD, Afcons Infrastructure Ltd, said, “Afcons has made a significant entry into the offshore business, which has been the domain of overseas players with limited participation from Indian companies. With ONGC slated to invest nearly US$60 billion in the next 5 years, Afcons will make a significant bid into a lucrative business opportunity in the offshore business.”