EIL eyes doubling revenue from overseas biz to 20% by FY27

THE state-owned Engineers India Ltd (EIL) last week secured a major overseas project from Nigerian refiner and petrochemical leader Dangote Group, with revenue potential estimated in the “hundreds of millions of dollars.”

- BENN KOCHUVEEDAN

The contract includes expanding Africa’s largest oil refinery (to 1.4 million barrels per day) and developing a 12-million-tonne petrochemical complex that will make the facility the world’s largest urea producer. Chairperson and Managing Director Vartika Shukla tells Benn Kochuveedan that while EIL remains the default choice in the domestic oil and gas space for engineering consultancy and project execution, the company now aims to nearly double its overseas revenue contribution to 20% by next fiscal year from the current 12%.

What is the significance of this large order from the Dangote Group from both revenue and project execution perspectives?

This order from the Dangote Group is the largest overseas contract we have secured to date. The contractual value for the petrochemical project in Nigeria is around $70 million. We will design and execute a 12-million-tonne per annum plant, expanding the current 3-million-tonne capacity. Once completed, this will become the world’s largest urea plant with an annual output of 7 million tonnes.