Russia: Contractor Signs Several Agreements Maire Tecnimont to Strengthen Position in Russia

Editor: Alexander Stark

Maire Tecnimont has signed several agreements during the St. Petersburg International Economic Forum (SPIEF) 2016.

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Pierroberto Folgiero, Maire Tecnimont Chief Executive Officer
Pierroberto Folgiero, Maire Tecnimont Chief Executive Officer
(Picture: Maire Tecnimont)

Saint Petersburg/Russia – The agreements have been signed at the presence of government officials of the countries involved, namely the Italian Prime Minister Matteo Renzi and the President of the Russian Federation Vladimir Putin.

Tecnimont, main contractor of Maire Tecnimont Group, signed a collaboration agreement with its client Eurochem and the Russian construction company Velesstroy. Such agreement confirms the intention to cooperate in relation to the construction phase of the ammonia project, which company is currently implementing in Kingisepp (Leningrad region) as the EPC contractor. The construction subcontracts have an overall value of approx US$ 228 million.

Moreover, Tecnimont signed a Memorandum of Understanding as EPC Contractor with the Russian-based Azot, one of the largest chemical companies in Russia, in partnership with the construction company Codest, part of the De Eccher Group, for the development of the Kemerovo Fertilizer Complex. The project consists of a world scale complex including an ammonia plant with a capacity of 2,000 metric tonnes per annum (MTPD), a nitric acid plant (1,200 MTPD), a porous ammonium nitrate plant (1,000 MTPD) and an ammonium nitrate solution plant (1250 MTPD). The project will be implemented in Kemerovo, south western Siberia.

Furthermore, Socar, State Oil Company of Azerbaijan Republic, Cdp Group (the Italian National Promotional Institution) through its subsidiary SACE, Italian Export credit Agency, EXIAR, Russian Agency for Export Credit, and Gazprombank Group, jointly announced the signing of a Memorandum of Understanding (MoU) to finance the large scale gas monetization GPC Project. The project foresees the realization of a gas processing plant with a capacity of approximately 10 BCM (billion cubic metres) of natural gas per annum, a polyethylene plant with a capacity of approximately 570,000 tonnes per annum, a propylene unit with a capacity of approximately 120,000 tonnes per annum and related infrastructure. The GPC project will be located in Garadagh near Baku, Azerbaijan.