Maire Tecnimont announces that its subsidiaries Tecnimont S.p.A and MT Russia LLC have signed an EPC contract worth €1.1 billion with Rosneft for the implementation of the VGO Hydrocracking Complex at the Ryazan Refining Company’s (RORC) production site, 200 km South-East of Moscow.

Pierroberto Folgiero, Chief Executive Officer, Maire Tecnimont Group said, “We are excited to start this strategic relationship with a leading player such as Rosneft, supporting its vision for the development of the Region’s value chain through technological downstream initiatives. We will put our best-in-class engineering and technological expertise and our capability in managing complexity to ensure the maximum energy efficiency and best environmentally performing standards. As part of our business DNA, our entrepreneurial and proactive approach has enabled us to further consolidate our very strong track record in the Russian Federation.”

The project is subject to financial closing as well as to the fulfillment of certain conditions, typical for this kind of transaction. Project total duration, expected to be typical for this kind of initiatives, will be defined and disclosed once such financial closing and the fulfillment of certain conditions are met.

The project’s scope of work entails a full range of works related to the design, supply of equipment and materials, construction, start-up and commissioning, and project finance services.

Once completed, the VGO Hydrocracking Complex will have a capacity of 40,000 barrels per day serving the needs of the local market according to the higher standard Class 5 regulation. The project will benefit from highly efficient technology and equipment with an automated control system to reduce the carbon footprint of the plant.

A significant portion of the scope of work will be performed by MT Russia in its Moscow engineering center, where Maire Tecnimont Group employs about 200 specialists currently involved in several ongoing Russian projects.