• Award in the Republic of Cameroon in the refining sector for an overall value of approximately USD715 MN

    • Scope of work envisages Engineering, Procurement, Construction, Commissioning and Start Up(EPCCS)

      Milan, 10 February 2014Maire Tecnimont S.p.A. announces that the Consortium between some of its subsidiaries (86%) andthe Turkish companyUstay A.S. (14%) has been awarded the Sonara Phase II Expansion project in Cameroon. The project relates to the realization of a new Hydrocracker Complex in the Refinery of Limbè (south-west of the Country) and is aimed at improving the quality of the refined products and at increasing the overall flexibility of the facilities.  The Client is SOcietè NAtionale de RAffinage (SONARA), the Company that owns and operates the Refinery, the only one in the Country.

      The overall contract value is equal to approximately USD715 million out of which approximately USD612 million pertaining to the Maire Tecnimont Group, whose Scope of work includes Engineering Services for the whole Project, the Procurement activities, the Construction of part of the Facilities, the Construction Supervision, and the Commissioning Services. A portion of the Construction activities will be carried out by Ustay A.S.. Completion is expected by the second half of 2017.

      The project has been awarded by the Ministry of the Public Contracts of Cameroon, after an international Tender in which the Consortium was the most competitive bidder among a number of international reputable competitors. The Sonara Phase II Expansion project is considered by the Government of Cameroon of strategic importance for the Country’s development.

      “The Sonara Project proves that our clients appreciate our successful strategy focused on the core business” explains Pierroberto Folgiero, Group CEO. “With this award the value of acquisitions announced in the last couple of months is in excess of USD1.65 billion, representing a strong evidence and a solid support for the Group’s performance over the next few years. This important project also reinforces the Group’s presence in a promising geography such as West Africa and confirms our focus on the oil & gas core business through a prestigious reference in the refining sector. We are very pleased to start-up a fruitful collaboration with Cameroun which is characterized by a stable and promising economy”.

      Maire Tecnimont SpA

      Maire Tecnimont S.p.A., a company listed on the Milan Stock Exchange, is the holding company of an international industrial group (Maire Tecnimont Group) leader in the sectors of Engineering & Construction (E&C), Technology & Licensing and Energy & Ventureswith specific skills in plant engineering in particular in the hydrocarbon industry (Oil & Gas, Petrochemicals, Fertilizers) and also in Power Generation and Infrastructures. The Maire Tecnimont Group is present in about 30 countries, has about 45 operating companies and about 4,300 employees, half of whom are located abroad. For further information: www.mairetecnimont.com.

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