Maire Tecnimont, through a subsidiary, has signed a contract with the Abu Dhabi Polymers Company (Borouge) group for some works for the expansion of the Ruwais petrochemical complex, in Abu Dhabi, in the United Arab Emirates.
The total contract value is approximately $45 million on a reimbursable basis.
Borouge is the joint venture between Abu Dhabi National Oil Company (ADNOC), one of the largest oil & gas companies in the world, and Borealis, an Austrian manufacturer that is an international leader in the supply of innovative solutions in the field of polyolefins, chemicals and fertilizers .
“After our recent award of the PP5 project, we continue to further strengthen the historical relationship of the Group with a leading industrial player like Borouge – commented Pierroberto Folgiero, CEO of the Maire Tecnimont Group – Our strong technological competitive advantage in transforming natural resources into innovative products with greater added value, allows us to be at the forefront of the multi-billion dollar investment plan in Abu Dhabi's downstream”.
A little less than two hours after the closing, Maire Tecnimont's share on the Stock Exchange is up 0,3%, to 3,536 euros.
