In February 2018, Técnicas Reunidas signed the contract for the execution of the process units for the new refinery of Duqm in Oman. This project is part of the Omani government plan for the industrial development of the Special Economic Zone of Duqm, which includes the new grassroot refinery, with an overall investment of $15bn in the coming 15 years. The contract has been awarded on an LSTK basis to the international joint venture between Técnicas Reunidas and Daewoo Engineering and Construction for an approximate value of $2.75bn and 47 months of duration. This is the largest of the three packages awarded for the refinery and includes all the process units. The project will be developed at Técnicas Reunidas’ office in Madrid, being the majority partner of the joint venture with a participation of 65%. This project will enlarge the experience and activity of the company in the Middle East. Duqm Refinery and Petrochemical Industries Company is a joint venture between the state-owned Oman Oil Company and Kuwait Petroleum International, the international subsidiary of Kuwait Petroleum Corporation. Técnicas Reunidas is a leading engineering and construction company in the sectors of production of oil and gas, petrochemicals, and power generation for a wide range of clients worldwide. Since 1960, the company has designed and built over 1,000 industrial plants in over 50 countries.
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