Technip Energies Secures Two Large Contracts from BPCL Worth €250-500 Million
Written by Emily J. Thompson, Senior Investment Analyst
Updated: 1d ago
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Source: Globenewswire
- Contract Scale: Technip Energies has secured two contracts from BPCL valued between €250 million and €500 million, covering key projects at the Bina and Mumbai refineries in India, showcasing the company's strong competitiveness in large-scale energy projects.
- Production Capacity Enhancement: The new polypropylene and Butene-1 units at the Bina refinery will produce 550 KTPA of polypropylene and 50 KTPA of Butene-1, addressing market demands for packaging materials and automotive components, thereby driving business growth in India.
- Technological Innovation: The 3 MMTPA PRFCC unit at the Mumbai refinery will be India's first of its kind, converting heavy refinery residues into lighter, higher-value products, which will enhance refining efficiency and optimize resource allocation.
- Long-term Partnership: These contracts reinforce the over two-decade collaboration between Technip Energies and BPCL, indicating the company's strong local presence and commitment to advancing energy infrastructure in India.
Analyst Views on TE
Wall Street analysts forecast TE stock price to fall over the next 12 months. According to Wall Street analysts, the average 1-year price target for TE is 3.00 USD with a low forecast of 3.00 USD and a high forecast of 3.00 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
1 Analyst Rating
1 Buy
0 Hold
0 Sell
Moderate Buy
Current: 7.650
Low
3.00
Averages
3.00
High
3.00
Current: 7.650
Low
3.00
Averages
3.00
High
3.00
About TE
T1 Energy Inc., formerly FREYR Battery, Inc., is an energy solutions provider. The Company is engaged in building an integrated United States supply chain for solar and batteries. It is involved in solar manufacturing with a complementary solar and battery storage strategy. The Company produces photovoltaic (PV) solar modules for the Utility-Scale, commercial and industrial (C&I) and residential markets in the United States from its first operating facility, the G1 Dallas solar module Gigafactory in Wilmer, Texas.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
