Técnicas Reunidas will close one of the best exercises in its history in terms of contracting after winning in Algeria a contract for the construction of a Sonatrach refinery with an investment budget of about 3,700 million dollars (about 3,336 million euros).
The Algerian state giant has commissioned the turnkey project to Spanish engineering, which leads a consortium with 55%, in which the Korean Samsung participates.
The deep conversion refinery, which will have a capacity of five million tons per year , is located in Haoud el-Hamra, Hassi Messaoud, in the interior of Algeria , and is part of the development and modernization plans promoted by the state company .
The percentage of the work portfolio for Técnicas Reunidas is equivalent to about 2,000 million dollars , which makes the future energy plant one of the five largest contracts in the history of the company controlled by the Lladó family. The contract, which will be signed by local authorities in the coming days, consolidates the change in speed of Técnicas Reunidas in 2019. The workload of the Spanish group will be above 11,000 million euros.
The Spanish-Korean consortium has imposed itself on the final of the contest to the British Petrofac, also with strong interests in the area. Despite the political instability that the country is going through after the resignation of Abdelaziz Buteflika in March 2019 due to strong social pressure, Sonatrach is still the energy giant of North Africa, with an extensive program of investments in the country to modernize and expand its oil and gas plant.
The work of Técnicas Reunidas includes the engineering, provisioning, construction, commissioning and commissioning of the project. Sources close to the contract indicate that the installation includes technologically advanced processing units, among which the treatment of crude, hydrocracker, diesel hydrodesulfurization, naphtha hydroprocessing, catalytic reformation, isomerization and deasphalting, among others. The plant will have an amines recovery unit, a sulfur recovery unit and an effluent treatment plant.
Técnicas Reunidas billed until September 3,428 million, 5% more. Ebitda advanced 68%, to 73 million, with a profit of 24 million, 310% higher.