Essar Projects Ltd (EPL) plans to achieve a turnover of Rs50,000 crore in five years, from the present Rs11,000 crore, according to a senior company executive.
A V Amarnath, CEO (minerals and metals), EPL, was quoted by a news agency as saying that in five years its turnover would top Rs50,000 crore. The company has an order book worth $6.1 billion, which includes orders worth $1.4 billion from the minerals and metal sector.
A leading engineering, procurement and construction (EPC) contractor, EPL operates through eight specialised business units in areas including power, hydrocarbons, civil and buildings, minerals and metals, offshore and subsea, pipelines and terminals, ports and jetties and heavy engineering.
In June, EPL handed over the Rs1,064 crore D1 development project, 200km off Mumbai, to ONGC, facilitating the scaling up of the D1 field production to 35,000 BOPD (barrels of oil per day).
The largest offshore project executed by the company envisaged the installation of three offshore platforms, the laying of sub-sea pipelines to connect the three platforms to the floating production, storage and offloading (FPSO) through a Pipeline End Manifold (PLEM).
The company completed the project, awarded in May 2010 to the Essar Offshore Subsea-led consortium, on a fast-track basis within 24 months.