Tecnicas Reunidas (ES:TRE) has released an update.
TipRanks Cyber Monday Sale
- Claim 60% off TipRanks Premium for data-backed insights and research tools you need to invest with confidence.
- Subscribe to TipRanks' Smart Investor Picks and see our data in action through our high-performing model portfolio - now also 60% off
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.