10-11-2016

Maire Tecnimont expands its footprint in Malaysia

Maire Tecnimont S.p.A. announces that its subsidiary Tecnimont S.p.A., in joint venture with China HuanQiu Contracting & Engineering Corporation Ltd. (HQC) – 65% Tecnimont / 35% HQC – has been awarded by PRPC Polymers Sdn Bhd (PRPC Polymers) a package of PETRONAS’ Integrated Complex (PIC) relating to the realization of a High Density Polyethylene Unit on an EPCC (engineering, procurement, construction and commissioning) Lump Sum Turn-Key basis, for an amount of approximately USD 328 million.

This award follows up the USD 482 million contract granted to the same joint venture by PETRONAS in November 2015. The unit will be located inside the PIC, in Pengerang, in the southeastern region of Johor, Malaysia, where the joint venture is currently carrying out the activities related to the first project.

PRPC Polymers is a wholly owned subsidiary of PETRONAS Chemicals Group Berhad which in turn is a subsidiary of Petroliam Nasional Berhad (“PETRONAS”), Malaysia’s fully integrated oil and gas multinational, one of the largest players in the sector globally. Beijing-based HQC, affiliated with China National Petroleum Corporation (CNPC), is a leading engineering company in the Oil & Gas industry in China and a reputable EPC contractor in the region.

The project’s Scope of Work envisages the provision of complete engineering services, equipment and material supply, erection and construction activities up to start up and guarantee test run. Completion is expected in early of third quarter 2019.

The High Density Polyethylene Unit will be based on LyondelBasell’s Hostalen Advance Cascade Process (HACP) technology and will have a capacity of 400,000 t/y (tons per year).

This achievement provides further evidence of Maire Tecnimont’s global leadership in the polyolefins field, enabling to expand the Group’s geographical footprint in South East Asia, an area that keeps showing interesting downstream prospects.

Pierroberto Folgiero, Maire Tecnimont Chief Executive Officer, commented: “After last year’s polypropylene units project award, we are proud to continue the fruitful relationship with a prestigious client such as PETRONAS. With this project we strengthen our presence in Malaysia, leveraging on our competence-driven approach and our distinctive track record in polyolefins”.