Italy-based engineering firm Maire Tecnimont’s subsidiaries Tecnimont and Tecnimont Arabia Limited have secured a $500 million worth contract to construct two polypropylene units at a downstream petrochemicals plant in Saudi Arabia.
Advanced Global Investment Company (AGIC), a subsidiary of the Kingdom’s listed Advanced Petroleum Company, has awarded the construction contract to the companies in order to build the two units at an Integrated PDH-PP project being built at Jubail Industrial City II.
The scope of work for the project includes complete engineering facilities, equipment, and out-of-kingdom material supply (to be done by Tecnimont), as well as in-kingdom material supply, erection, and construction activities up to start-up and guarantee test runs (to be performed by Tecnimont Arabia Limited). The project is expected to be completed in the second quarter of 2024.
“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 Group’s 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 Arabia’s large wave of investments in downstream.”
According to the company statement, 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.
Maire Tecnimont listed on the Milan Stock Exchange heads an industrial group that leads the global natural resource processing industry. The Italian company manages large turnkey licensing, engineering, procurement, and construction (EPC) projects in different geographical areas. It operates in more than 45 countries across four continents with over 6,300 employees.