TÉCNICAS REUNIDAS INTRODUCTION
We are an international general contractor, engaged in the engineering, design and construction of various types of industrial facilities for a broad spectrum of customers throughout the world, including many of the principal national oil companies as well as several multinational companies.
We are the leader for engineering and construction in the oil and gas sector in Spain, one of the leaders in Europe in the design and construction of oil and gas facilities, and one of the world leaders in the refining sector.
Most of our business is concentrated on large turnkey industrial projects, although we also provide engineering, management, start-up and operating services for industrial plants.
RUP PROJECT IN TURKEY
Técnicas Reunidas RUP and Tüpras signed the outstanding agreements related to the financing of the Izmit Residue Upgrade Project (RUP). With this signature, the “Lump Sum Turn Key” (LSTK) contract becomes effective. The contract involves the engineering, procurement and construction of the Project. Its value is 2,404 billion dollars and the execution of the Project is expected to be completed 36 months after commencement of construction. In 2010, Técnicas Reunidas started the execution on this project under a “cost plus” scheme, with the option of conversion to LSTK.
The purpose of the project is to increase the conversion capacity of the Izmit refinery, which will enable it to process heavier and high sulphur content crude oils, to reduce the deficit of gasoil in Turkey and to adapt the refining projects to the EU environmental specifications.
The contract reflects Técnicas Reunidas’ ongoing strong commitment to Turkey where we have
been working since 1990 and has already completed 6 different projects. Currently, in addition to the Izmit project, Técnicas Reunidas is executing a natural gas project for Botas, the state-owned gas distribution company in Turkey.
Treunidas RUP Insaat is the company established in Turkey to perform the on-shore activities of the Project.