Technip Energies Wins €250M-€500M EPC Contract for HPCL Mumbai Refinery
THNPF has more than doubled off its 52-week low of $10.188 on light trading volume (0.3× avg).
Summary
Technip Energies secured a large EPC contract from HPCL valued between €250M and €500M for the Lube Modernization and Bottom Upgradation project at the Mumbai Refinery. The scope includes a 550 KTA Integrated Hydrocracker and Catalytic Dewaxing unit plus an 850 KTA Solvent Deasphalting unit, integrated into the operating refinery. Order intake will be recorded in Q3 2026 Project Delivery backlog, adding meaningful revenue visibility. The award strengthens Technip's position in India's downstream modernization market and supports HPCL's shift to higher-value lube base stocks.
At the time of this announcement, THNPF was trading at $31.19 on OTC in the Energy & Transportation sector, with a market capitalization of approximately $5.6B. The 52-week trading range was $10.19 to $49.00. This news item was assessed with positive market sentiment and an importance score of 7 out of 10. Source: Seeking Alpha.