Milan, 1 March 2016 – Tecnimont, a Maire Tecnimont subsidiary, and KBR, Inc. have executed a collaboration agreement to establish a joint venture for the Engineering, Procurement and Construction of an Ammonia and Urea plant with associated Utilities and Offsites for Cronus Fertilizers, LLC, in Tuscola, Illinois, USA. As previously announced to the market, the Project, expected to be worth around USD1.5 billion, is subject to financing.
With this agreement, Maire Tecnimont Group and KBR will leverage strategic synergies between their respective areas of expertise, combining the world class skills of both companies - Maire Tecnimont Group as a global leader in urea technology licensing with distinctive capabilities in managing large EPC projects in the hydrocarbons downstream value chain, and KBR as a global leader in ammonia technology licensing and key player for the execution of EPC projects in the U.S. fertilizer market.
Maire Tecnimont S.p.A.
Maire Tecnimont S.p.A. is a company listed with the Milan stock exchange. It heads an industrial group (the Maire Tecnimont Group) that leads the international Engineering & Construction (E&C), Technology & Licensing and Energy Business Development & Ventures markets, with specific competences in plants, particularly in the hydrocarbons segment (Oil & Gas, Petrochemicals and Fertilisers), as well as in Power Generation and Infrastructures. The Maire Tecnimont Group operates in approximately 30 different countries, numbering around 45 operative companies and a workforce of about 4,400 employees, of whom over half work abroad. For more information: www.mairetecnimont.com.
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