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Azerbaijan : Maire Tecnimont's subsidiaries sign EPC contract for polyethylene plant in AZERBAIJAN
Publish Date : 10-Feb-2016
Maire Tecnimont's subsidiaries, Tecnimont and Kinetics Technology (KT), have inked an EPC (engineering, procurement and construction) contract with Socar Polymer for a polyethylene plant to be established in the Sumgayit Petrochemical Complex, Baku, Azerbaijan.
Under the contract worth around $180m, Tecnimont and KT will be providing complete engineering services, equipment and material, along with construction activities up to start up of the polyethylene plant. Also, Tecnimont and KT have assured to test run the plant.
Development of the 120,000t per year plant will be carried out on the basis of the Ineos' Innovene S technology.
Maire Tecnimont chief executive officer Pierroberto Folgiero said, "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."
Socar Polymer during last April had awarded a contract worth around 350m, to Maire Tecnimont to provide EPC support and related utilities, and off sites facilities for a 180,000t per year polypropylene plant in the Sumgayit Petrochemical Complex.
Completion of the polypropylene plant is expected by the end of 2017.
