By ANNA PEREZ
MADRID -- Spanish engineering company Técnicas Reunidas SA said Thursday it has been awarded two projects worth $900 million, its biggest contract so far this year, by state-owned Saudi Arabian Oil Co, better known as Saudi Aramco.
Tecnicas Reunidas will build a hydrocracker plant and a diesel hydrotreater facility for an upcoming 400,000 bpd refinery and marine terminal project that Saudi Aramco is developing at Jazan, in the kingdom's southwest region on the Red Sea coast, the company said in a statement.
The facilities are scheduled to be operational by the beginning of 2017. The hydrocracker plant will be one of the largest in the world and the second largest in Saudi Arabia.
The Jazan complex will provide refined products for the domestic market, which is facing rapidly rising demand.
Saudi Arabia, the Middle East's biggest economy, has seen its domestic energy requirements surge in recent years as the government spent oil revenues on new industries and infrastructure to diversify the local economy and to accommodate the kingdom's growing population.
The contract is Técnicas Reunidas' fourth from Saudi Arabia during 2012. The value of the three previously awarded projects amounted to $1.6 billion.
Dow Jones Newswires