Spain's Tecnicas Reunidas said Monday that it won a contract to build a $400 million petrochemical plant in Saudi Arabia for Saudi Basic Industries Corporation, known as SABIC.
The contract tasks Tecnicas with the detailed engineering of the plant, the purchase and supply of equipment and materials, the plant's construction - to be completed in 2014 - and getting the project under way.
The plant will be part of the complex that the Saudi firm already has in the area and will use the emulsion technology for ABS plastic, the license for which belongs to SABIC.
This is the 12th contract Tecnicas has won in Saudi Arabia since it entered that market in 2003, and once again the contract comes from SABIC, with which it is currently working on several other projects.
SABIC is a company that deals in chemical products, polymers, chemical substances for industrial uses, fertilizers, metals and innovative plastics and is one of the world's five main petrochemical manufacturers.
Tecnicas Reunidas is one of the main international engineering and construction firms for gas and petroleum production and refining projects, petrochemicals and energy generation for a broad spectrum of customers all over the world. EFE