Maire Tecnimont leaps to Piazza Affari after the acquisition of contracts for approx 260 million euros in Eastern Europe and the Orient. In the late morning, the share was at 0,66 euro, up by 5,22%. Shares were still down 19% month-on-month, but recovered 10,2% from their October lows.
The first agreement signed by the energy engineering player is on an EPC (Engineering-Procurement-Construction) basis, for the construction of a Low Density Polyethylene (LDPE – 4) plant in Bratislava. The customer is Slovnaft Petrochemicals sro, belonging to the MOL group, one of the major players in the European oil-gas market.
The value of the contracts is approximately 204 million. The latter will be operational within the month of June, and activities are expected to start immediately thanks to the contractual advances guaranteed by Slovnaft. Completion of the project is scheduled for the first quarter of 2015.
Other contracts for engineering services in the field of refining, gas treatment, fertilizers, polyolefins, located in the Middle-Earth East and Russia, amount to a total of approx. 56 million euros.
