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Maire Tecnimont was awarded with petrochemical contract awarded in Saudi Arabia

April 14/2021

MOSCOW (MRC) -- Maire Tecnimont S.p.A. announced that its subsidiaries Tecnimont S.p.A. and Tecnimont Arabia Limited have been awarded by Advanced Global Investment Company (AGIC) a package of the Integrated PDH-PP complex project, relating to the realization of two Polypropylene Units on an Engineering Procurement and Construction Lump Sum Turn-Key basis, said the company.

The total contract value is approximately USD 500 million. The project scope of work entails complete engineering services, equipment and out of kingdom material supply (to be performed by Tecnimont) and in kingdom material supply, erection and construction activities up to start up and guarantee test run (to be performed by Tecnimont Arabia Limited). The project completion is expected by the second quarter of 2024.

The two Polypropylene Units will have a capacity of 400,000 tons per year each and will be located inside the Integrated PDH-PP (propane dehydrogenation - polypropylene) complex in Jubail Industrial City II, in the Kingdom of Saudi Arabia.

AGIC is a wholly owned subsidiary of Advanced Petrochemical Company, a Saudi joint stock company established in 2005 and listed on the Saudi Stock Market since 2006. It manufactures polypropylene products for a range of industries including automotive, consumer product, healthcare, packaging, and textile.

Pierroberto Folgiero, Maire Tecnimont Group Chief Executive Officer, commented: We are really enthusiastic to start a new valuable relationship with such a prominent client in one of our historical and most strategic markets in the petrochemicals sector. This achievement provides further evidence of Maire Tecnimont Groups global leadership in polyolefins, its technology-driven approach and distinctive competencies in managing large complex projects. Moreover, this important result represents another significant milestone of our Gas Monetization strategy, enabling us to be geared up for Saudi Arabias large wave of investments in downstream."

As per MRC, Advanced Petrochemical Co. announced April 11, 2021, that operations at its polypropylene plant resumed as of March 28, 2021, and operations at its propylene plant restarted as of April 11, 2021, after the completion of scheduled maintenance works.

According to MRC's ScanPlast report, PP shipments to the Russian market reached 141,870 tonnes in January 2021 versus 123,520 tonnes a year earlier. Supply of homopolymer PP and PP block copolymers increased.


mrcplast.com
Author:Anna Larionova
Tags:PP, PP block copolymer, homopolymer PP, PP random copolymer, propane, propylene.
Category:General News
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