20.12.2019 Milan, Italy
Maire Tecnimont S.p.A. announces that its subsidiary KT – Kinetics Technology S.p.A. has been awarded an EPC contract on a Lump Sum Turnkey basis by INA-Industrija Nafte, d.d. (INA) for a new Delayed Coking Complex for the Rijeka Refinery in Croatia, in the frame of the Rijeka Refinery Upgrade Project. INA has a leading role in the Croatian oil business and a strong position in the region. MOL Plc. and the Republic of Croatia are its biggest shareholders.
The Scope of Work relates to the execution of engineering, procurement of all equipment and materials, construction and erection work for a new Delayed Coking Unit with coke handling and ship loading, Sour Water Stripper, Amine Recovery units and the revamping of Hydrocracker, Sulphur Recovery, and Utilities & Offsites units.
The Project is a mix of complexity and engineering challenges, ranging from debottlenecking of existing units up to the grassroot implementation of new ones. It involves the latest solutions for coke storage and sea jetty construction, and it will concern over 60% of the existing refinery.
The overall contract value is around €450 million, and project completion is planned in 2023.
With this important achievement, Maire Tecnimont strengthens its positioning in the refining business, in particular in the “bottom of the barrel” technologies such as the delayed coking unit one. The Group provides the full technological cycle of crude oil processing, a key driver to meet the growing market for cleaner fuels and to ensure a higher output of high-margin products.
Pierroberto Folgiero, Maire Tecnimont Group CEO, commented: “We are very happy for this important acquisition in Europe with a prestigious client like INA. This acquisition enforces the cooperation between INA and KT which started in the 80’s and strengthen the presence of KT in a strategic country like Croatia.”