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03-12-2012

Maire Tecnimont awarded engineering & procurement contract for a polyethylene plant

Maire Tecnimont S.p.A. announces that its main subsidiary Tecnimont S.p.A. has been awarded by Etileno XXI Services B.V., an Engineering and Procurement contract on Lump Sum Basis for the realization of a 300 Kilo-Tons per year Low-Density Polyethylene (LDPE) Unit, to be constructed within the Etileno XXI petrochemical complex.

The Etileno XXI Project under development by Braskem Idesa is located in Nanchital, Veracruz (Mexico). It is expected to generate over 8,000 jobs during the construction and 3,000 direct and indirect jobs once operations begin in 2015. Likewise, the project supports the Mexican government’s strategy to boost competitiveness of the sector and the industrial and regional development.

The LDPE Unit will be built using the Lupotech T technology of Lyondellbasell industries and the value of the EP Contract is USD191.4 million (approximately €147 million). The Engineering and Procurement activities shall be completed within 4Q 2014.

This award further strengthens the position of the Maire Tecnimont Group in the polyolefins market and extends the historical collaboration in projects managed by Braskem on petrochemical projects. This contract confirms Group’s growth strategy towards technology-driven business while maximizing Engineering & Procurement scheme.

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