Milan, October 1, 2019Maire Tecnimont announces to have signed with EuroChem, a leading global fertilizer company, a Memorandum of Intent according to which Tecnimont S.p.A and Tecnimont Russia LLC, both subsidiaries of Maire Tecnimont, have been selected to carry out the Early Works Services with subsequent extension into Engineering Procurement and Construction activities for a new urea and ammonia production facility at Kingisepp, in Northwest Russia, in case the EuroChem’s investment plans go ahead as planned.

The proposal from Maire Tecnimont provides the value up to approximately EUR1 billion for the new combined urea and ammonia plant with capacity about 3,000 tonnes of ammonia and 4,000 tonnes of urea per day, once fully ramped up.

Under the terms of the Early Works agreement, Maire Tecnimont Group will carry out preliminary engineering and site surveying work at the brownfield site adjacent to EuroChem’s existing production facilities at Kingisepp.

“We are pleased to take the next step toward considering building this world scale plant with Maire Tecnimont, a company that we have worked with closely for many years,” said Petter Østbø, Chief Executive Officer of EuroChem Group. “Expansion of production facilities is a strategic goal for us and reinforces our growing position in the fertilizer industry.”

“We are eager to keep on supporting a prestigious client such as EuroChem in its long-term expansion plan,” commented Pierroberto Folgiero, Maire Tecnimont Chief Executive Officer. “With this important project we reinforce our position in the fertilizer business, while our long-lasting industrial footprint in Russia is further confirmed.”