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Consortium awarded $3.5-billion refinery and aromatics contract in Turkey

8:30 AM MDT | May 21, 2013 | Natasha Alperowicz

An international consortium comprising Técnicas Reunidas (Madrid), GS Engineering & Construction (Seoul), Saipem (Milan) and Itochu (Tokyo), has been awarded an engineering procurement and construction contract by Socar Turkey Enerji to build a previously announced oil refinery and aromatics complex in Turkey. Tecnicas, GS Engineering & Construction, and Saipem each have a 30% stake in the consortium, and Itochu the balance. The combined value of the deal is $3.5 billion, with the leading contractors having a share of about $1.1 billion each...

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