Maire Tecnimont Strenghtens Its Presence In Brazil : Two New Projects In Petrobras Sites

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March 4, 2008

Maire Tecnimont S.p.A. has announced today to have signed – through its subsidiary Maire Engineering do Brasil – the agreement to participate in a special purpose company in order to realize two plants in Southern Brazil for a total value of $355 million(€246 million), for the oil company Petrobras. Maire Tecnimont owns 33% of the special purpose company, in joint partnership with Alusa, that signed the agreement with Petrobras together with MPE. Alusa and MPE are two important Brazilian players in the engineering & construction sector.

The first project relates to the construction of a natural gas treatment plant for a total value of $241 million (€167 million) in Vittoria, the capital city of the State of Espirito Santo. The plant – to be realized within 30 months - will have a fully operational treatment capacity of 2.5 million cubic metres/day of natural gas, shipped through pipelines from the sea platforms located just off the city’s coast. At the end of the treatment process, the gas will flow into the distribution network of Vittoria and the surrounding areas. The plant belongs to the national program of Petrobras aimed at increasing the natural gas supply for the national distribution network.

The second project is related to the construction of a cogeneration steam-power plant for a total value of $114 million (€79 million), inside the Replan refinery, in the State of Sao Paulo. The plant – that will be completed within 36months – will allow the recovery of steam and use to of the latter to supply electricity to the refinery via a steam turbine of 22 MW. Furthermore, the contract provides the expansion and the upgrade of the compressed air plant and electrical substations. The Replan refinery – located adjacent to the polypropylene plant that the Maire Tecnimont Group is realizing in consortium with Odebrecht – is the main oil plant of the Petrobras System and actually represents 20% of the total oil refining capacity in Brazil. Petrobras in its five-year industrial plan (2008-2012) forecasts investments for a total value of about $100 billion.

Fabrizio Di Amato, Chairman & CEO of Maire Tecnimont, has commented: “This new agreement is particularly significant for us because it strengthens more and more our positioning in South America and in the Brazilian market in particular, where we won last January two important contracts for the realization of two turn-key power plants”.


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