Técnicas Reunidas continues to gain a foothold among state groups as the main contractor for large engineering and construction projects in Saudi Arabia. The group has just been awarded contracts in the country for 2,150 million dollars (1,975 million euros) for the development of gas treatment facilities.
The Spanish company, whose shares are up more than 6% on the stock market today, received a loan of 340 million euros from Sepi in 2022 precisely to show support from the State in the international tenders in which it competes, as many of them do. its competitors.
The amount of almost 2,000 million of the contracts recently awarded in Saudi Arabia corresponds to 65% of the Spanish company in the joint venture with the Chinese state group Sinopec to develop energy infrastructure.
The award, carried out by the state oil company Saudi Aramco, also comes at a time of special relevance in business relations between Spain and Saudi Arabia, in which the Government must decide whether to place any type of condition or obstacle to Telefónica’s entry into Saudi Telecom, also controlled by the country’s authorities.
Navantia has an order of 2,000 million with Saudi Arabia and the new Técnicas Reunidas contract further strengthens business relations between both countries.
Saudi Aramco has awarded a total of $3.3 billion (€3.03 billion) in engineering contracts to the joint venture formed by Técnicas Reunidas and Sinopec. The Spanish group and the Chinese group will act as EPC specialists (EPC, engineering, supply and construction) of liquefied natural gas liquids fractionation facilities in Riyas, in Saudi Arabia.
The facilities aim to fractionate liquefied natural gas to produce ethane, propane, butane and pentane. To do this, treatment, dehydration and refrigeration plants must be built, as well as storage, water supply, drainage or vapor recovery facilities, among others.
The company’s forecast is that the projects will last almost four years and mobilize 575 engineers, 70% of them from Técnicas Reunidas, whose staff, of more than 8,000 people, is made up mostly of these professional profiles.
