Brief: Tecnicas Reunidas In JV With Samsung Engineering Wins $3.7 Bln Contract For Refinery In Algeria

Samsung E&A Co

30/12/2019 07:10

Dec 30 (Reuters) - Tecnicas Reunidas  TRE.MC :
    * SAYS WINS CONTRACT FOR A GRASSROOTS REFINERY IN ALGERIA
    * CONTRACT HAS AN TOTAL VALUE OF US$ 3,700 MILLION, WITH THE
SHARE
OF TR EXCEEDING US$ 2,000 MILLION
    * NEW REFINERY WILL HAVE A PROCESSING CAPACITY OF FIVE
MILLION
TONS/YEAR
    * PROJECT WILL BE EXECUTED IN A JOINT VENTURE (JV) WITH
SAMSUNG
ENGINEERING, TECNICAS REUNIDAS WILL BE LEADER OF JV, WITH A 55%
SHARE
    * CONTRACT WILL BE FORMALLY SIGNED IN EARLY JANUARY
    * REFINING OPERATIONS TO START DURING THE FIRST HALF OF 2024

Source text for Eikon:  ID:nCNM69wyKg 
Further company coverage:  TRE.MC 

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