Fabtech secures HPCL's project order

Pune: Fabtech Projects & Engineers Pvt Ltd has bagged a Rs 120 crore order to put up an advanced LPG and propylene mounded storage system for HPCL at its Visakhapatnam refinery. This will be executed on a lumpsum turnkey (LSTK) basis, and is reportedly India’s largest LSTK mounded LPG/propylene storage bullets project till date.

On Fabtech’s business plans, Mr N.P. Hariharan, Director, Marketing, said, “We have a three-pronged strategy for our growth - being a preferred partner for contract manufacturing and outsourcing, exports to European countries and inorganic growth through acquisitions.”

The company has set aside Rs 50-60 crore for acquisitions in India and overseas, he added.