Tecnicas Reunidas (ES:TRE) has released an update.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
- Make smarter investment decisions with TipRanks' Smart Investor Picks, delivered to your inbox every week.
Sinopec and Técnicas Reunidas, through a joint venture, have secured a contract to develop a €2.3 billion cracking unit in Kazakhstan’s Atyrau province, with both companies investing equally. This project, underpinned by a strategic agreement and technological support from Lummus Technologies, will enhance Kazakhstan’s petrochemical production by generating products from domestic gas fields. The unit is part of a petrochemical complex led by the state-owned KazMunayGas, aiming to produce approximately 1,300 kilotonnes of ethylene.
For further insights into ES:TRE stock, check out TipRanks’ Stock Analysis page.