trending Market Intelligence /marketintelligence/en/news-insights/trending/-_ffkPqtHuni1sN-8m8gIA2 content esgSubNav
In This List

Maire Tecnimont bags $248M engineering contract from Sonatrach

Blog

Insight Weekly: Bank boards lag on gender parity; future of office in doubt; US LNG exports leap

Blog

Insight Weekly: Job growth faces hurdles; shale firms sit on cash pile; Africa's lithium future

Blog

Insight Weekly: Loan growth picks up; US-China PE deals fall; France faces winter energy crunch

Blog

Perspectives from China: Chinese M&A in 2022


Maire Tecnimont bags $248M engineering contract from Sonatrach

Maire Tecnimont SpA said Sept. 3 that its subsidiary, Tecnimont S.p.A., was awarded an engineering, procurement and construction contract worth $248 million by Sonatrach for an LPG project in the Hassi Messaoud area in central Algeria.

The company will provide the contract's stated services to implement a new train with an extraction capacity of 8 million standard cubic meters per day of LPG and condensate coming from associated gas sourced from existing plants located nearby ZCINA facility outside the battery limits.

The project is an extension of the ZCINA LPG plant and aims to increase production of LPG and condensate from the Hassi Messaoud field.

The contract will be formally signed in September, and the project is scheduled to be completed within 30 months from the start date.

Maire Tecnimont Group CEO Pierroberto Folgiero said the contract enables the company to enter the Algerian market "in the crucial gas treatment sector."