Tecnimont, the Italian industrial conglomerate, is to establish a subsidiary in Egypt in partnership with a state-owned oil company and a local contractor.
Tecnimont signed a joint venture agreement with Cairo’s Egyptian Petrochemicals Holding Company (Echem) on 11 February to establish an engineering and management services company in the country.
Petrojet, a local oil services company, will also take a stake in the new company.
“This initiative opens the door to Egypt where we intend to focus significant resources,” says Fabrizio di Amato, chairman and chief executive officer of Italy’s Maire Tecnimont, the parent company of Tecnimont.
Milan-based Tecnimont is an international industrial group operating in the petrochemicals, oil and gas, power, infrastructure and civil engineering sectors.
It specialises in polyolefins and was ranked fifth in MEED’s petrochemicals contracts league table, on the basis of $1.85bn worth of contracts won between June 2006 and May 2007 (MEED 15:6:07).
You might also like...
Oman steps up hydrogen plans
08 May 2026
A MEED Subscription...
Subscribe or upgrade your current MEED.com package to support your strategic planning with the MENA region’s best source of business information. Proceed to our online shop below to find out more about the features in each package.
Take advantage of our introductory offers below for new subscribers and purchase your access today! If you are an existing client, please reach out to your account manager.
