Tecnicas Reunidas S A : INEOS awards Técnicas Reunidas the execution of a world scale ethylene plant in Europe

INEOS, the world's leading private chemical company, has awarded Técnicas Reunidas a contract for the project management, engineering, procurement and construction management and supervision services for a world scale ethylene plant in Europe.

The facility, to be built in the Belgian port of Antwerp, will have a production capacity of 1.5 million tons per year. Start-up of the facility is expected in 2026.

Ethylene is a raw material needed for products that are used in wind power plants, solar panels, medical equipment (blood bags, sterile containers, magnetic resonance scanners, etc.), long-life construction materials, textile products and lightweight components for vehicles, among other applications.

INEOS will invest 3,000 - 4,000 million euros in this project. It will be the largest capital investment made by the European chemical sector in the last 20 years.

The advanced technology applied in its development will make it the most energy-efficient and environmentally sustainable facility of its kind in Europe.

For the development of the project, the company will mobilize a highly qualified team that will reach a peak of 450 professionals in Madrid, composed of process engineers and chemical engineers, among other specialties.

In addition, Técnicas Reunidas will mobilize a peak of 225 professionals for construction supervision to the Antwerp site and also to the center where the construction of the large-scale modules, designed by Técnicas Reunidas, will be carried out.

Técnicas Reunidas will promote, as it does in all its projects, the involvement of Spanish companies in their execution, confirming the dragging effect it exerts on the country's industrial fabric.

This project is a milestone in the European chemical sector due to its size, its advanced technology and its contribution to the energy transition, Técnicas Reunidas appointment confirms the company as a center of excellence in engineering in the world.

About INEOS:

INEOS is a global manufacturing company making the raw materials and energy used for everyday life. Its products make an indispensable contribution to society by providing the most sustainable options for a wide range of societal needs. For example, preservation of food and clean water; construction of wind turbines, solar panels and other renewable technologies; for construction of lighter and more fuel-efficient vehicles and aircraft; for medical devices and applications; for clothing and apparel; and for insulation and other industrial and home applications.

INEOS businesses have put in place the plans and actions needed to ensure that they lead the transition to a net zero economy by no later than 2050, whilst remaining profitable, and staying ahead of evolving regulations and legislation. As part of its greenhouse gas emission reduction strategy, there is widespread goal to move to a more circular economy, in which materials are re-used to their maximum extent.

About Técnicas Reunidas

The Spanish company Técnicas Reunidas is one of the most important companies in its sector on an international scale, with a presence in 25 countries and a track record that totals more than 1,000 industrial plants over its more than 60 years of experience.

Técnicas Reunidas' activity is mainly focused on the development of engineering projects, design and construction of industrial plants for the production of clean fuels, natural gas and chemical products, and solutions linked to the energy transition, circular economy and decarbonization (renewable hydrogen, biofuels, waste recovery, CO2 sequestration and capture, etc.).

Its more than 6,800 employees, mostly highly qualified engineers, make its headquarters in Spain a center of engineering excellence.