(Alliance News) - Maire Tecnimont Spa announced Friday that a consortium consisting of its subsidiary Tecnimont Spa, part of the Integrated E&C Solutions business unit, and Orascom Construction SAE has been awarded an engineering, procurement and construction contract on a lump sum turnkey basis for a nitric acid and ammonium nitrate plant by KIMA - Egyptian Chemical Industries Company.

The total contract value for the consortium is USD300 million, of which Tecnimont is responsible for approximately USD220 million. Finalization of the contract is subject to the execution of the financing package.

The scope of work mainly includes engineering, supply of all materials and equipment -- by Tecnimont -- in addition to construction activities to be carried out by Orascom Construction. The plant, which is expected to be completed in the first half of 2026, will produce 600 tons per day of nitric acid, which will be fully processed into 800 tons per day of granulated ammonium nitrate, for fertilizer use, to be sold to local farmers increasing their crop yields, as well as exported to international markets.

This project follows KIMA's large urea and ammonia plant built by Tecnimont and Orascom Construction and successfully launched in 2020 within the same industrial complex, located in Aswan Governorate, Upper Egypt.

Alessandro Bernini, CEO of Maire, said, "We are honored to continue our collaboration with a major player like KIMA in supporting the fertilizer value chain in Egypt. With this award we further consolidate a long-lasting and fruitful relationship and strengthen our industrial footprint in North Africa, thanks to our strong ability to execute EPC projects."

Maire Tecnimont's stock is up 0.1 percent at EUR3.37 per share.

By Giuseppe Fabio Ciccomascolo, Alliance News senior reporter

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