Corporate Development     

Published: September 30, 2026
Updated: September 30, 2026

Engineers India

Lending its EPC skills to Kenya, Gulf: Mega EPC order for Kenya refinery

Established in 1965, and considered amongst the most reputed central PSUs in the country, Engineers India (EIL) has tremendous capabilities and high-level executing skills in engineering consultancy and project management. The company is focused on EPC services in the oil & gas, refineries, petrochemicals, fertilizers, metallurgy, infrastructure and renewable energy sectors. It has been a trusted partner in shaping global energy and industrial assets, with proven strengths across the entire project lifecycle – from concept to commissioning.

The Dangote group, headquartered in Lagos, is Nigeria’s foremost multinational conglomerate and a dominant industrial force in West Africa. With diversified interests spanning upstream oil & gas, mining, petrochemicals, fertilizers, cement, sugar and food, the group is one of the region’s largest employers and operates across 17 African countries. Its flagship 650,000 barrels-per-day integrated refinery and petrochemical complex in the Lekki Free Zone is the world’s largest single-train refinery, producing Euro V quality gasoline, diesel, jet fuel and polypropylene, and is further being expanded to 1.4 million barrels per day. EIL was the project management consultant (PMC) and EPCM consultant for the Lekki refinery.

KENYA PROJECT

The Dangote group is aggressively expanding into East Africa. To meet regional demand and process a wider crude basket, it is setting up a state-of-the-art 700,000 bpd greenfield refinery and petrochemical plant in Kenya. It has once again engaged EIL as a PMC and EPCM in a contract valued at $ 450 million. Once completed, the project will be critical in strengthening fuel production within East Africa, reducing reliance on imports, supporting regional energy security, and playing a critical role by supplying petroleum products to the global market.

GULF BUSINESS

Saudi Arabia and the UAE plan investments of about $1 billion in pipelines, storage facilities, oil terminals and related infrastructure to provide alternative routes for moving crude and petroleum products to international markets. “EIL is in early-stage discussions with Saudi Arabia and the UAE to provide consultancy and engineering services for oil & gas infrastructure aimed at reducing the Gulf producers’ dependence on the Strait of Hormuz, which has been severely disrupted by the Iran conflict,” said Atul Gupta, Chairman and MD.

“There has been a slowdown in order inflows from the region (in the aftermath of the conflict) but we hope to see the order inflow pick up in Q3 and Q4. Definitely, the conflict has opened up more opportunities for us. The immediate impact of the conflict, however, has been a slowdown in new orders from the Middle East, as energy producers focus on securing and restoring existing installations,” explained Mr Gupta.

The UAE is also planning additional underground oil-storage facilities at Fujairah. Such investments could include engineering design, feasibility studies, project management and construction-management assignments – areas in which EIL has traditionally operated.

OVERSEAS BIZ

The slowdown is significant for the company because its international business has become an increasingly important source of growth. Overseas projects account for 43 per cent of the order book, while international consultancy contributed about Rs 4,929 crore, or nearly 62 per cent, of the fresh business secured during 2025-26. It has secured fresh business worth Rs 7,978 crore in the year ended March 2026, taking the order book to a record Rs 15,109 crore as of March 31. As such, the current order book stands at around Rs 17,000 crore, including Rs 510 crore of orders secured from the Gulf region since the Iran war started. The company is also diversifying into green hydrogen, biofuels, nuclear energy and defence as it seeks to reduce dependence on its traditional hydrocarbon business.

EIL has significant exposure to the Middle East, with projects and engagements across Saudi Arabia, the United Arab Emirates, Bahrain and Kuwait. It has also opened an office in Saudi Arabia and has a long-term in-Kingdom services agreement with Saudi Aramco.

The Middle East opportunity comes as EIL seeks to expand beyond its traditional hydrocarbons business and build a larger international presence. International expansion has been a central part of that strategy. The company has strengthened its presence in Saudi Arabia and continues to work across the UAE, Bahrain, Kuwait, Algeria, Guyana and Mongolia, while also expanding its business in Africa. In Nigeria, the company has secured an EPCM mandate for the expansion of the Dangote refinery, valued at about USD 360 million, in addition to a separate assignment for a four-train fertiliser project.

Q1 FY26-27 PERFORMANCE SUMMARY – STANDALONE (Rs Mn)

PROS & CONS

For EIL, the Middle East conflict is creating a near-term drag on order flows even as it potentially opens a new class of engineering projects – infrastructure designed to make the region’s energy exports less vulnerable to disruption at Hormuz.

After the announcement of Dangote’s mega greenfield refinery & petrochemical plant assignment, the share price of EIL started moving upwards during September 2026. It made a yearly high of Rs 321 and is currently being quoted at Rs 310. Looking at its yearly low of Rs 163 (Jan 27, 2026), the stock has appreciated by 90%.