Spanish oil engineering company Tecnicas Reunidas announced that it has signed a US$ 800 million contract to build part of a petrochemical complex in Saudi Arabia that is expected to open in 2015.
The firm was awarded the contract for the Chem-III project, in the Jubail Industrial City II, by Sadara Chemical Company, a joint venture between Saudi Arabian Oil and the Dow Chemical Company.
Tecnicas Reunidas is an outgrowth of the former Spanish subsidiary of The Lummus Company, founded in 1960. In 1972, a Spanish group of investors acquired 100% of the shares of Lummus Española and renamed the company to Tecnicas Reunidas. Most of its business is concentrated on large turnkey industrial projects, but it also provides engineering, management, start-up and operating services for industrial plants.
The MENA Weekly Monitor – Bank Audi
31 July
Spain’s Tecnicas Reunidas wins US$ 800 million Saudi power plant deal
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