Maire Tecnimont’s subsidiary Tecnimont has won a $550m engineering, procurement and construction (EPC) contract from Egypt Hydrocarbon Corporation (EHC), for the construction of a new ammonia plant in Ain Sokhna, Egypt.
Last September, Maire Tecnimont was selected as the exclusive EPC contractor for the project. The scope of work for the company includes full engineering, procurement and construction activities.
The project is expected to be completed 36 months from the effective date, which will come into effect once the financial closing takes place.
Maire Tecnimont Group CEO Pierroberto Folgiero said: “With this achievement, we are proving once again the great resilience of our core business in a particularly challenging period for the whole market.
“We are also really proud to play a strategic role in the development of the fertilizer industry in Egypt with an entrepreneurial client such as EHC.”
EHC is negotiating terms with Servizi Assicurativi del Commercio Estero (SACE) and US EXIM Bank to finance the project.
Once completed, the new plant will produce about 1,320 metric tons per day (MTPD) of ammonia and will include extensive utilities and offsite facilities.
The ammonia produced at the new plant will be used to feed one of EHC’s already existing and in operation Ammonium Nitrate plant, which is located in the same industrial facility.
Egypt Hydrocarbon Corporation Chairman Basil El-Baz said: “This contract is another outstanding opportunity to work with Maire Tecnimont, a company we trust with best in class expertise and experience. The EHC expansion project is a vote of confidence in the Egyptian economy and the reforms that have been undertaken to date.
“The project will serve as a catalyst for the mining sector, attracting foreign investment and increasing employment opportunities and providing the raw materials needed for the sectors activities.”
Earlier this month, Maire Tecnimont along with its consortium members including MT Russia, Sinopec Engineering and Sinopec Engineering Group has signed an engineering, procurement and site services contract (EPSS) with Amur GCC, a subsidiary of PJSC Sibur Holding.
Worth €1.2bn, the contract deals with petrochemical development of the Amur Gas Chemical Complex (AGCC), a downstream expansion of the Amur Gas Processing Plant (AGPP).
Maire Tecnimont to build ammonia plant in Egypt. (Credit: Pixabay/LEEROY Agency.)