Maire Tecnimont, USD 550 million contract in Egypt

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Maire Tecnimont subsidiary Tecnimont S.p.A. has finalized with Egypt Hydrocarbon Corporation S.A.E. (EHC) all technical and commercial conditions of the EPC contract related to the implementation of a new Ammonia plant in Ain Sokhna, Egypt.

Maire Tecnimont Group had already been selected as the exclusive EPC contractor, as announced to the market on September 12th, 2019. 

The contract’s value is approximately USD 550 million

The plant will produce 1,320 MTPD (metric tons per day) of ammonia and includes extensive utilities and offsites facilities. The Scope of Work includes full Engineering, Procurement and Construction activities.

Project completion is scheduled after 36 months from the contract effective date, which will be triggered by the financial closing of the project. 

In this regard, both SACE and US EXIM Bank are negotiating with EHC the terms of their support to the financing of the project.  

The produced ammonia will be used to feed an Ammonium Nitrate plant, already existing and in operation in the same industrial facility, also owned by EHC.

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