• EPC Lump Sum contract signed with SOCAR POLYMER for  the implementation of a polyethylene plant at the industrial site of Sumgayit, Azerbaijan

  • Overall Project value is approximately USD 180 MN

Milan, 5 February 2016Maire Tecnimont S.p.A. announces that, as a result of an international tender, its subsidiaries Tecnimont S.p.A. and KT – Kinetics Technology S.p.A have signed an EPC contractwith SOCAR POLYMER for the realization of a polyethylene plant on a Lump Sum Turn-Key basis.

The plant will be located in the Sumgayit Petrochemical Complex around 30 km North of Baku, Azerbaijan.

Total contract value is approximately USD 180 million.

SOCAR POLYMER is a Company controlled by SOCAR, the national company of Azerbaijan active in the oil, gas, petrochemicals and fertilizer sectors.

The Project’s Scope of Work envisages the provision of complete engineering services, equipment and material supply, construction activities up to start up and guarantee test run. The plant will be developed on the basis of the Ineos Innovene S technology and will have a capacity of 120,000 t/y (tons per year).

This award follows the contract granted in April 2015 by the same client for the realization of the Sumgayit’s polypropylene plant, thus highlighting the Group’s reliability and competitiveness with a key client such as SOCAR. With this achievement Maire Tecnimont Group consolidates its leadership in the polyolefins field, by further strengthening its presence in the Caspian Area, where the Group can boast a long-lasting and successful track record.

Pierroberto Folgiero, Maire Tecnimont Chief Executive Officer, commented: “This result confirms the Group’s distinctive competences in the polyolefins sector and its capabilities in implementing relevant EPC projects in its historical core business. We are eager to keep on supporting SOCAR, one of the key players worldwide in the hydrocarbon industry, to further develop the downstream sector in the Country with this strategic initiative."

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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