Maire Tecnimont is about to take home a 248 million dollar contract in Algeria. This was announced by the company, explaining that it has signed a preliminary agreement with Sonatrach's Central Engineering & Project Management Department for the execution of the "Lpg Train 4 - Zcina Hassi Messaoud" project, which will be built within the Zcina complex, in the `area of Hassi Messaoud, in central Algeria.
The project involves the implementation of a new train with a capacity of 8 million standard cubic meters per day for the extraction of LPG and Gas Condensate from the associated gas coming from the plants located near the Zcina complex.
This is an extension of the existing ZCINA LPG plant (in production since June 2013 with three LPG trains), aimed at increasing the production of LPG and gas condensate from the Hassi Messaoud field.
The agreement will be confirmed following the finalization of the contractual attachments with the client, and is subject to the Final Award Notice of the project by Sonatrach. The official signing of the contract is expected in September. The project is expected to be completed within 30 months of the start date.
“After our recent awards in the refining business, we are really proud of this result, which allows us to enter the promising Algerian market in the vital gas treatment sector, where our Group has gained significant experience by carrying out projects in other countries of the MENA area in recent years”, said Pierroberto Folgiero, CEO of the Maire Tecnimont Group.
"We are convinced that this is the first step in a long-term collaboration with a prestigious client such as SONATRACH, also in consideration of the strategic relations between our two countries, as regards the global energy supply scenario".
At the end of the morning, the stock of the Italian company on the Stock Exchange gained more than 3%, to 4,128 euros.
