27-09-2012

New contracts for Maire Technimont in oil, gas & petrochemical business

Maire Tecnimont S.p.A. announces that several contracts have been awarded to some of its subsidiaries for a total amount of approximately €135 million for Engineering, Procurement and Technology Services.

In Egypt the Group has been awarded through its subsidiary Tecnimont KT S.p.A. (TKT) an Engineering and Procurement contract for the realization of some processing units in the new refinery of Egyptian Refinery Company (ERC) in Mostorod, Cairo (Arab Republic of Egypt). The clients are a consortium between GS E&C, one of the world’s top EPC leaders, and Mitsui & Co. Ltd. (Mitsui & Co), one of the most diversified and comprehensive trading, investment and service enterprises, and Mitsui and Co. Plant Systems Ltd., subsidiary of Mitsui & Co; GS E&C and Mitsui & Co are respectively South Korean and Japanese main contractors. The overall project amount is approximately €97 million. Completion is expected by the end of 2014.

The units to be built are:
• one Hydrogen Production Unit (HPU) of 100,000 Nm3/h capacity;
• three Sulphur Recovery Units (SRU) of 162.5 ton/day capacity each;
• one Tail Gas Treatment unit (TGT) of 325 ton/day capacity;
• one Amine Processing Unit of 90 m3/h capacity.

The new units are part of the project developed by the Egyptian Refinery Company (ERC), which involves the construction of a refinery for the production of fuels and other petroleum products, in line with the latest international environmental standards.

Moreover, the Group has received, through its subsidiaries Tecnimont, Stamicarbon and TKT, a series of awards, located in Bangladesh, Russia, China and other countries, for Licensing and Engineering Services, for a total amount of approximately €38 million.

These awards consolidate the track record of the Maire Tecnimont Group in the oil, gas & petrochemical business; in particular, with the refining project in Egypt the Group further strengthens its presence in North Africa, a strategic area in the Euro-Mediterranean region.