Essar Projects, a part of Ruias-owned Essar Group, on Monday said it has bagged the `1,400-crore IOC contract for the state-owned company’s under-construction Paradip refinery in Orissa. “Essar Projects (India) Ltd emerged as the winner against stiff international competition. With this contract, the current order book size of Essar
Project is in excess of $5.5 billion,” the company said. IOC is setting up a 15 million-tonne a year oil refinery at Paradip and has mandated The first phase of the project is scheduled to be completed in 17 months and will play an important part meeting rising domestic fuel demand.