Great opportunity for EIL in Middle East, see more orders coming in: EIL CMD

New Delhi: Engineers India Limited (EIL) sees great opportunity in the Middle East and expects to get more orders from the region where the focus is on maximising oil production, Chairperson and Managing Director (CMD) Vartika Shukla said on Friday. Addressing the media at an earnings conference, Shukla said, “There is upside of investments in enhancing the production (of crude oil and gas) to capture the cycle before the energy transition kicks in. And it is important that we cash in on the opportunities wherever they are available. That opportunity is largely available in the Middle East.”

EIL has increased strength of its Abu Dhabi office

Asserting that the PSU sees great opportunity in the Middle East, Shukla said, “Strength at our Abu Dhabi office has gone up from 32 people to 84 people.” She added that it goes to show the confidence that clients have in EIL and that the PSU is well-placed to cash in on the opportunities in the region. “We are well positioned there because we have a long relationship with our clients there. Our services are above the rest. Our prices are competitive. And the volumes of orders are large. We have almost tripled our manpower in our Abu Dhabi office, which showcases the confidence that our clients have in us when it comes to delivery,” said the EIL Chairperson.

FY23: EIL order book has 15% overseas orders

The CMD also said that in FY2022-23, out of the total order book value of Rs 9,079 crore, around 14 percent constituted international orders. The order book value for FY 2021-22 was Rs 7,656 crore. She added that out of the new business secured in the current financial year so far, around 30 percent comprises of orders from overseas. Among the important projects that EIL has secured overseas in FY24 are a greenfield urea/ammonia plant in Africa and another order from ADNOC.

In the last financial year, the PSU added Guyana to the list of geographies where it has a footprint. Some of the strategically important projects taken up by EIL overseas in the last financial year were the India-Bangladesh Friendship Pipeline (IBFP), which was inaugurated in March this year, and the Dangote refinery, which was inaugurated on recently on May 22.

Within the country, some of the important projects being executed by EIL include the Vizag refinery modernisation project of HPCL, capacity expansion project of Indian Oil’s Panipat Refinery and the Cauvery Basin refinery of CPCL.

Around 90 percent of EIL’s business comes from oil and gas sectors. However, the PSU is trying to pivot towards green hydrogen, sustainable aviation fuel, biorefinery, infrastructure projects, Carbon Capture, Utilisation and Storage (CCUS), among others, as energy transition picks up pace.

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