Tubacex receives the largest contract in its history in Abu Dhabi for 1,000 million euros


It has a value of more than 30,000 tons of product and a term of ten years, for the supply of integrated solutions aimed at gas extraction in the Middle East.

Euskaraz irakurri: Tubacexek bere historiako kontraturik handiena eskuratu du Abu Dhabin 1,000 milioi euroren truke

Tubacex has won the largest contract in its history with the Abu Dhabi National Oil Company (ADNOC) for approximately EUR 1,000 million, worth more than 30,000 tons of product and for a duration of ten years, for the delivery of solution projects focused on gas extraction in the Middle East.

Under this agreement, the company commits to the construction of a new pipe and thread production plant in Abu Dhabi, the first for the production of OCTG in the Middle East, which will be operational by the year 2024 and will employ 150 people.

This award adds to other recent multi-year agreements signed in recent weeks for the production of umbilical, aerospace and nuclear tubes placing Tubacex as a whole with a total portfolio of more than 1,500 million euros.

Since the company had a portfolio of EUR 500 million at the end of May, the current figure allows us to calculate that the contract with the Abu Dhabi National Oil Company is approximately EUR 1,000 million.

As reported by the company to the CNMV, this order was signed during the “Make it in the Emirates” event, a forum that brings together the largest industrial companies and investors in the United Arab Emirates to share their development plans and stimulate local investment. .

The company “ensures the stability of its business by focusing its strategy on improving the efficiency of projects and reducing their impact on the environment”, while “maintaining diversification towards low-emission energy activities, or access to emerging markets.” such as hydrogen or CO2 capture”.

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Source: EITB


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