FACTS & FIGURES - Tecnimont ICB

FACTS &
FIGURES
2008

BOARD OF DIRECTORS
Chairman & Chief Executive Officer
Fabrizio Di Amato
Directors
Gianni Bardazzi
Giuseppe Colaiacovo
Stefano Fiorini
Adolfo Guzzini
Giovanni Malagò
Roberto Poli
Massimo Sebastiani
Saverio Signori
STATUTORY AUDITORS
Chairman
Giorgio Loli
Permanent Auditors
Andrea Marrocco
Giovanni Scagnelli
Alternate Auditors
Andrea Bonelli
Luca Longobardi
INDEPENDENT AUDITORS
Deloitte & Touche SpA
COMPANY MANAGEMENT
SVP Strategic Marketing and Special Initiatives
Gianni Bardazzi
SVP Corporate Development
Andrea Brunetti
SVP Human Resources, Organization and ICT
Franco Ghiringhelli
SVP Procurement
Mario Ruzza
SVP Administration, Finance and Control
Massimo Sebastiani
General Counsel
Alessandro Bertolini
Head of Investor Relations
Lawrence Y. Kay
Tecnimont Managing Director
Enzo Caetani

Revenues by
sector
Revenues by
geographic
area
Backlog by
sector
Backlog by
geographic
area
Infrastructure &
Civil Engineering
Chemicals &
Petrochemicals
The Americas
Infrastructure &
Civil Engineering
Power
The Americas
All figures are rounded, ensuring totals sum to 100%.
KEY FIGURES
Others
17%
34%
34%
10%
68%
16%
Others
Middle East
18%
8% 10%
23%
51%
Middle East
1%
20%
17%
Power
4%
30%
Italy
Oil & Gas
Italy
Europe EU
8%
6%
Chemicals &
Petrochemicals
Oil & Gas
6%
19%
Europe
non-EU
Europe EU
Europe
non-EU

in € million
Revenues
537
1,060
1,984
2,463
2005 2006 2007 2008
Backlog
EBITDA Net profit
57
94
145
187
2005 2006 2007 2008
2,030
3,768
4,196
4,534
2005 2006 2007 2008
20
30
73
117
2005 2006 2007 2008
FACTS & FIGURES 2008
Index
1. CHAIRMAN’S STATEMENT
2. MISSION AND VALUES
3. HISTORY AND PROFILE
4. 2008 HIGHLIGHTS
5. PEOPLE
6. RESEARCH, TECHNOLOGY AND INNOVATION
7. CHEMICALS & PETROCHEMICALS
8. OIL & GAS
9. POWER
10. INFRASTRUCTURE & CIVIL ENGINEERING
11. CORPORATE GOVERNANCE
12. CORPORATE SOCIAL RESPONSIBILITY
13. CONSOLIDATED FINANCIAL STATEMENTS
2
6
8
14
20
28
40
48
54
60
70
80
84
1

1
CHAIRMAN’S
STATEMENT
Dear Shareholders,
2008 was a year of significant change for Maire Tecnimont. The merger
of Maire Engineering into Tecnimont and consequent creation of a
single operating company achieved the goal of pooling the two
companies' resources and expertise, thereby creating a single, unified
platform for EPC (Engineering, Procurement, Construction) projects.
The new business model will allow the Group to manage increasingly
large projects, while extending our flexibility and efficiency so as to
take maximum advantage of new opportunities.
2008 was a record year
in terms of results.
As an indicator of the Group’s increased capacity, revenues grew by
24% to ¤2,463 million. Ebitda amounted to ¤187 million, up 29%,
while Ebitda margins improved from 7.3% in 2007 to 7.6% in 2008.
Net Group income rose by 60% compared with the previous year to
reach ¤117 million.
The Group completed several important contracts, particularly in the
Middle East, in 2008, confirming its ability to realize large-scale
projects on time and within budget. The Rabigh, Tasnee and Sahara
plants in Saudi Arabia were among the most important plants
delivered. As a result of new projects awarded during 2008, the Group
increased its backlog to ¤4,534 million at the year-end, despite the
significant growth in revenues. The Power sector enjoyed the greatest
increase in new orders, thanks in particular to orders from Latin
America totalling approximately ¤1,515 million. The Oil & Gas sector
was also awarded several important projects.
2 3

Maire Tecnimont has confirmed
its ability to work and deliver
projects successfully in
a wide variety of international markets,
even under difficult conditions.
Despite the difficult state of the world economy, the Group boasts
a year-end 2008 backlog of almost two times revenues, which
allows it to look with confidence towards the future. The Group has
reviewed its strategic development guidelines for the coming three
years and has formulated a new 2009-2011 strategic plan. This
takes into account the generally negative economic forecasts but
also new opportunities such as those arising from government
policies to improve Italian infrastructure. The plan first sets out
general strategic guidelines, which are then delineated as
initiatives for business units across the Group and for individual
business units.
To reach the goals outlined,
we must maintain
the highest performance
standards.
As it optimises its multi-business model and leverages on its
common EPC platform, the Group will consolidate and expand its
geographical presence, diversify sectors of activity and, last but
not least, improve the efficiency of its operations.
I trust that the excellent results achieved in 2008 will be
appreciated by all our shareholders and stakeholders as
confirmation of the Group’s operational skills and our desire to
continue growth which will benefit clients, employees and
investors in the years to come.
Yours sincerely,
The Chairman
Fabrizio Di Amato
4 5

2
MISSION AND VALUES
6 7
Mission
To be a leading
Engineering & Construction Company,
serving selected business segments worldwide with distinctive
capabilities and a strong technology orientation, to provide added
value to our stakeholders, and to contribute through innovation to a
sustainable and environmentally friendly global development.
Values
To be best in class in execution,
highly focused on quality, cost-effectiveness, delivery time and reliability.
To achieve top-level safety records,
leveraging on our experienced professionals.
To anticipate the market,
strengthening multi-sector business strategy and empowering our
long-lasting presence in high-potential emerging markets.
To have a view on the future,
developing innovative technological solutions jointly with our
technology providers, to secure a better future for our clients and
the countries in which they operate and development opportunities
for our personnel wherever they work.

3
8
HISTORY AND PROFILE
Maire Tecnimont is a leading Engineering and Construction Group
operating worldwide in the Chemicals and Petrochemicals, Oil & Gas,
Power, Infrastructure and Civil Engineering sectors. The Group’s
reputation and success have been achieved because of its strong
technology orientation and advanced skills in Project Management,
Engineering, Procurement and Construction (EPC) services for the
implementation of complex projects worldwide. It has developed and
demonstrated major expertise in managing large EPC projects on a
turnkey basis in different countries and regions. The Group combines
high quality and planning standards with a focus on multicultural and
environmental issues. Present in four continents and 24 countries, the
Group has 37 operating subsidiaries and approximately 4,300
employees, more than half of whom are outside Italy.
Maire Tecnimont’s roots lie in two important Italian engineering
groups: Fiat Engineering (later to become Maire Engineering),
acquired in February 2004, and Tecnimont, acquired in October 2005.
The origins of Fiat Engineering date back to the 1930s, when the
construction and plant division of the Fiat group began designing
and developing automobile plants. During the twentieth century,
Fiat’s engineering department supported the expansion of its
parent group by developing plants and sales offices in Italy and
abroad. In this period, it evolved excellent skills in cogeneration
and combined cycle plants in Italy and abroad, notably the Middle
East and Latin America. It also developed specialist expertise in
infrastructure, such as the design of high-speed railway lines
(Turin-Milan and Florence-Bologna) and innovative underground
railway systems. The acquisition of Fiat Engineering by the Maire
Group was finalized in February 2004 by the formation of Maire
Engineering. Founded in Rome at the beginning of the 1980s, the
Maire Group was originally active in civil and industrial
engineering and maintenance, and progressively expanded into
infrastructure and major civil projects. Following the acquisition
of Fiat Engineering, it became one of the main national players in
general contracting.
9

The challenges posed by the international market, however, led the
Group to take a further ambitious step: the acquisition of Tecnimont,
a leading and long-established company serving the international
petrochemical industry, from the Edison Group in 2005.
Tecnimont was founded by the Montedison Group in 1973 to
combine the specialist skills of the engineering and development
divisions of Montecatini and Edison, two great names of Italian
industrial history. The first inherited the legacy of Giulio Natta,
the Nobel prize-winner for chemistry in 1964, and specialized in
building polyolefin plants. The second had been active in
electricity generation since the late nineteenth century.
Tecnimont and its predecessors have now been designing and
constructing plants for the chemicals and petrochemicals, oil & gas,
and electricity sectors in Italy and abroad for more than fifty
years. During this period, the Company established a presence in
many developing areas that have now risen to prominence in the
world market, from the Middle East to India, Latin America,
Russia and China, establishing a successful track record in the
execution of turnkey engineering, procurement and construction
projects. The acquisition of Tecnimont by Maire, which gave birth
to Maire Tecnimont, was ranked as the second most important
merger in Italy in 2005 (KPMG M&A Award 2006).
After the acquisition of Fiat Engineering and Tecnimont, the Group
faced the difficult challenge of merging very diverse business
cultures. New business strategies were implemented to achieve
greater competitiveness in international markets. From small
satellite operations of great industrial galaxies, the activities of
Tecnimont and Maire Engineering became the core business of the
Maire Tecnimont Group. Today, the Group operates from a
common IT platform that provides for the sharing of common tools
and procedures and promotes greater flexibility for personnel. The
Group operates as an integrated global engineering system and
manages complex projects throughout the world, leveraging on
skilled professional employees from many different cultures. The
main operating centres are in Milan, Paris, Turin, Rome,
Salzgitter, Mumbai, Belo Horizonte, and Brindisi.
In 2008 the network was further enhanced by the acquisition of Bergamo-based Noy Engineering,
an Italian company specializing in the design and supply of PET resin and polyester, nylon and
acrylic fibre plants. The Group was thus able to further broaden its technology portfolio.
In early 2007 Maire Tecnimont decided to seek a listing on the stock exchange in order to increase
its international visibility and widen its ownership base. 26 November 2007 was the first day of
trading on the Milan Bourse. The Company was awarded the ‘Value Creators’ prize by MF Company
Awards in 2007.
Over the years, the Group has successfully seized many major opportunities that have arisen in the
Engineering and Construction (E&C) industry. One key factor during the entire acquisition process
has been Maire Tecnimont’s strategy of increasing the value of its newly acquired companies by
promoting higher levels of efficiency and by introducing significant changes to the Group structure.
That is why in September 2008 Maire Engineering was merged into the new single operating
company, Tecnimont, with the aim of realising businesses synergies, achieving maximum
efficiencies, developing the Group’s expertise, and optimizing Company operations, processes and
commercial activities.
Maire Tecnimont now occupies one of the leading positions in the ranks of Italian and international
engineering and construction companies, and is recognized as the leading independent Italian
contractor to the oil & gas industry.
10 11

Group Structure
Maire Tecnimont SpA is the parent company of the Group, focusing
on strategy, coordination and supervision of the following
corporate areas: administration, finance & control; human
resources, organization & ICT; strategic marketing & special
initiatives; and procurement. It also handles legal, internal
auditing, external communications, and investor relations services
on behalf of the Group.
Tecnimont SpA is the main operating company working in:
Chemicals and Petrochemicals
More than 120 polypropylene and polyethylene plants delivered
worldwide, making Tecnimont the market leader with a share of
approximately 30% of global polyolefin capacity installed in the
last six years, including a 40% share in LDPE.
Additional competences in ethylene oxide, ethylene glycol,
purified terephthalic acid (PTA), ammonia and fertilizers.
Oil & Gas
Over 80 projects related to LNG terminals and storage tanks
delivered worldwide.
Additional competences in the LNG chain and oil refineries.
Power
20 power plants delivered in Italy and 15 abroad with more than
7,400 MW installed capacity.
Many references in coal-fired, gas turbine combined-cycle, and
hydroelectric power plants.
Infrastructure and Civil Engineering
Designed approximately 37% of the Italian high-speed railway
lines now under construction.
Primary competences in underground mass transportation systems.
12 13

4
14
10 January
MT signs a contract with API Raffineria di
Falconara to supply engineering and supervisory
services for the Falconara Marittima
integrated energy centre in Italy. The Group
will provide the refinery with a dedicated team
of specialist engineers and project managers.
14 January
MT receives a safety award for 15 million
man-hours without lost-time injury at the
Petro Rabigh project in Saudi Arabia.
15 January
MT signs a contract with Polinter (PEQUIVEN)
for the provision of basic engineering design
services and the procurement of long lead
items for a 300,000 tonnes/year low density
polyethylene (LDPE) as part of the Olefinas
Tercera y Polietilenos El Tablazo complex.
25 January
The go-live date for the new integrated Group
IT system, SEED. The system allows for a
global overview of the business and ensures
the integration and traceability of Group
transactions, creating advantages in terms of
efficiency and optimization.
2008 HIGHLIGHTS
29 January
An MT-led consortium is awarded two
mega-contracts in Brazil for the
construction on a lump-sum turnkey
basis of two power stations with a
combined capacity of 1,080 MW. The first
plant will be realized for the major
Brazilian private investor MPX near the
port of Itaqui, in the state of Maranhao,
the second for MPX and EDP (through its
Brazilian subsidiary Energias do Brasil)
near the port of Pecem, in Cearà state.
Both plants will be built to comply with
stringent environmental standards that
exceed those currently in force in Brazil.
11 February
MT signs a joint venture with the Egyptian
Petrochemicals Holding Company (ECHEM),
controlled by the national Ministry of
Petroleum, for the incorporation of a new
company to provide engineering services and
management for the construction of industrial
plants in Egypt and nearby countries.
20 February
MT signs a contract with Silfab for basic
engineering design services, main
equipment procurement, permitting services
and other support activities for a new high
added value manufacturing plant in the
photovoltaics industry.
15

26 February
MT signs a contract with PetroChina Daqing
Refining and Chemicals Co. (PetroChina
Group) for the supply of license, process
package and basic engineering services for
a 300,000 tonnes/year polypropylene plant.
The Chinese plant will be the eleventh in
the world to use the Spherizone technology.
25 April
During a ceremony held in Mumbai in the
presence of the Maharashtra State Industries
Minister and the Union Minister of India for
Fisheries and Agriculture, MT’s Indian
subsidiary TICB receives two trophies from the
Government of Maharashtra for excellence in
exports for the years 2005-06 and 2006-07.
28 April
MT signs a contract with EDF for the
provision of basic engineering design
services and project management for the
construction of an LNG regasification
terminal in Dunkerque, France.
7 May
Through its wholly owned subsidiary MST
SpA, MT is awarded two contracts: one for
the facility management and maintenance
of the Rome Headquarters of INPDAP, the
Italian civil servants' pensions institute, and
the other, from Poste Italiane, the leading
Italian provider of postal services, for the
management and maintenance of 367 post
office branches.
8 May
MT signs a contract with the Egyptian
company, Engineering for the Petroleum &
Process Industries (ENPPI), to provide PMC
(Project Management Contractor) services
for a 200,000 tonnes/year polystyrene plant
at Alexandria, Egypt.
15-16 May
MT participates in the 35th National Congress
of ANIMP-OICE-UAMI (the three main
organizations for Italian engineering contractors
and related services) in Santa Margherita
Ligure, Italy.
8 June
MT signs a contract with IVECO for basic
engineering services for a truck production
plant in Madrid, Spain. This project represents
a renewal of the collaboration with the
FIAT Group in the industrial sector, as well
as an international marketing success for
MT’s Infrastructure & Civil Engineering
business unit.
16 June
MT sponsors a project to restore the
seventeenth century Acqua Acetosa Fountain
in Rome promoted by the Municipality of
Rome’s Cultural Heritage Office.
29 June–3 July
MT is among the main exhibitors of the 19th
World Petroleum Congress Exhibition in
Madrid, the most influential meeting place
for the global oil and gas industry, organized
by the World Petroleum Council.
16 17
1 July
The official beginning of the “In the Open”
Project. To celebrate several important
Group anniversaries, people and places of
Maire Tecnimont will be depicted in
their daily work in a series of paintings
that will portray the complex world of MT.
8 July
The Honoris Causa Degree is awarded to the
Microcredit Nobel Prize winner, Professor
Muhammad Yunus, by the University of
Rome’s Sapienza Faculty of Political Science,
in collaboration with Maire Tecnimont and
other sponsors.
18 July
MT holds its annual Convention in Milan at
the Officine del Volo. Around 1,700 people
participated by videoconference and by
streaming on the intranet portal.
30 July
MT signs contracts for the supply of three
flue gas desulphurization (FGD) and
dedusting systems for the coal-fired power
stations at Pecem and Itaqui in Brazil. Their
installation will allow both power stations to
meet advanced environmental standards that
exceed current Brazilian requirements.
5 August
MT acquires 75% of the engineering
company, Noy Engineering Srl, from the
Green Holding Group. The company
specializes in the design and supply of
polyethylene terephthalate (PET) resin
and polyester, nylon and acrylic fibre
plants. The transaction enlarges Maire
Tecnimont's range of EPC turnkey plants.
18 August
MT is ranked 33rd in the Top 225
International Contractors and 10th in
the Middle East by Engineering News-
Record, the leading US journal for the
construction industry.
1 September
Maire Engineering is merged into
Tecnimont, creating a new single
operating company. The integration is
aimed at realizing business synergies,
while optimizing Company processes and
operational and commercial activities.

17 September
Construction begins on the new railway track
from Fiumetorto to Cefalù, part of the project
to double the Palermo-Messina line. MT will
construct 20 km of new track.
22 September
MT wins its first contract in Slovakia. It is
awarded a contract for the basic engineering
design package for a 220,000 tonnes/year low
density polyethylene plant in Bratislava. The
plant, to be built for Slovnaft Petrochemicals
sro, part of the MOL Group, will be based
on the state-of-the-art Lupotech T tubular
high-pressure process.
3 October
The new corporate identity is adopted by all
of MT’s Italian and international subsidiaries
and branch offices.
3 October
MT is among the keynote speakers at the
international conference promoted by World
Energy Council Italy on future energy
trends, which focused specifically on the
development of new technologies to reduce
global CO 2 emissions.
6 October
An MT-led consortium signs an EPC contract
with the MPX-EBX Group for the construction
of the third line of the new coal-fired power
plant in Pecém, Cearà State, Brazil.
8 October
MT is part of a consortium awarded a
contract to expand the underground gas
storage facility in Wierzchowice, western
Poland, to 1.2 billion cubic metres. The client
is the national public gas distributor PGNiG.
The project incorporates challenging
efficiency and environmental targets.
3-6 November
MT is among the main exhibitors at the
13th Abu Dhabi International Petroleum
Exhibition & Conference (ADIPEC), one of the
largest and most acclaimed oil and gas
shows in the world.
9-11 November
MT is a partner-sponsor at the 22nd
International Project Management
Association (IPMA) World Congress
in Rome. MT’s Petro Rabigh project
is among the winners of IPMA’s
International Project Excellence Award
for 2008.
11 November
The new Maire Tecnimont website goes
on-line. It features new and updated
contents and graphic layout. The skin was
redesigned in accordance with the new
corporate identity.
23 November
MT signs an agreement with the Italian
rugby club, ASD Rugby Monza 1949, to
be title sponsor of its teams in the 2008-
2009 and 2009-2010 seasons. The
initiative is part of the Group’s social
responsibility programme focusing on
sporting activities to promote social
inclusion amongst young people.
27 November
The Italian Railways’ experimental train Y1
reaches a record speed of 339 km/h during
a gradient speed test on the Bologna-
Florence line.
In this section Maire Tecnimont is represented by the acronym MT
18 19

5
Zero Incident Target
PEOPLE
Maire Tecnimont confirmed and consolidated its record safety
performance in 2008, thanks to its Integrated Environment, Health
and Safety Management System. This led to a further improvement
in performance, even against the background of a major
organizational change involving the integration of Maire Engineering
and Tecnimont, the two main operating companies of the Group.
Despite the complexity of the Group’s activities and the year’s
organizational changes, our safety performance continued to exceed
national and international norms. This demonstrates that the growth
in our business has not undermined our attention to safety. Maire
Tecnimont’s record of workplace accidents in non-Italian sites, which
is clearly superior to the industry average, confirms the Group’s
excellent performance. In the table A, we outline the 2008 data
expressed in the most common international indicators:
a) LTI - Lost Time Incident Frequency Rate;
b) RIR - Recordable Incident Rate.
These indicators are computed and monitored according to US
Occupational Safety and Health Administration (OSHA) regulations,
reflecting common international practice, and are shown compared
with the average performance of the Oil & Gas and International
Industrial Construction sectors.
The table B shows the Injury Frequency and Severity Indexes
(according to UNI 7249 standards) on Italian sites managed by the
Group directly or in joint ventures/consortia in 2008, compared with
the benchmarks established by the Italian National Institute for
Work Incidents (INAIL).
20 21

Table A
Maire Tecnimont Safety 2008
(based on approx. 115 million hours
worked on-site abroad)
K P I
*
LTI
(OSHA Lost Time Incident Rate)
RIR
(OSHA Recordable Incident Rate)
Maire Tecnimont
0.02 0.14
0.13
Oil & Gas Producers
Contractor Data
**
Outstanding HSE performances were recorded by the following projects:
Petro Rabigh, Saudi Arabia (35 million hours without LTI); KPPC
Aromatics, Kuwait (20 million hours); Al Waha, Saudi Arabia (20 million
hours); Tasnee, Saudi Arabia (17 million hours - this project was selected
for the 2007 Total Outstanding Project HSE Award by Fluor); Q-Chem
II, Qatar (10 million hours); and IOCL Panipat, India (5 million hours).
The work on reinforcing, diffusing, checking and constantly
upgrading the Integrated HSE Management System continued in
2008, with the aim of actively preventing accidents and occupational
diseases. There was a particular emphasis on directly managed
sites. In 2008, the HSE function organized about 600,000 hours of
training courses, which attracted 172,000 attendees.
We continued to implement Maire Tecnimont’s corporate HSE
policies and improve our performance against a background of
diverse organizational, management, technological and operational
needs. Specific focus was devoted to integrating the Infrastructure
and Civil Engineering business more closely into the Group’s
systemic approach.
International
Reference
Benchmarks
Construction Industries
Institute (CII)
***
0.11
0.55 0.58
* KPI - Key Performance Indicator
** Source: International Association of Oil & Gas Producers. Report No 409, May 2008. Safety Performance indicators - 2007 data. Contractor
aggregated data.
*** Source: CII – Benchmarking & Metrics. Safety Report 2007. Aggregated data 2006 (BMM 2007 02 December 2007).
Table B
National
Benchmark
Indexes
IF
(Injury Frequency Index)
IG
(Injury Severity Index)
Maire Tecnimont 2008
(based on approx. 1.7 million
hours worked onsite in Italy)
Construction Industry
21.14 56.37*
* 2005-2008 INAIL index (million hours worked) for the construction industry.
** 2005-2008 INAIL index (million hours worked) for the manufacturing and services industries.
*** 2002-2005 INAIL index (thousands of hours worked) for the manufacturing and services industries.
0.29
National Reference Benchmarks
0.77***
Manufacturing and
Services Industries
33.89**
Maire Tecnimont HSE System
HSE objectives, targets and programmes are part of the Maire
Tecnimont business vision. The HSE policy takes into account specific
national rules, HSE Management System principles and structures,
applicable international standards, client requirements, and so on.
Maire Tecnimont establishes, documents, implements, maintains
and continually improves a tailored HSE management system in
accordance with ISO 14001:2004 and OHSAS 18001:2007 standards.
The Group’s top management establishes the HSE policy, which is
implemented by all personnel, and, through a periodical review of
the HSE Management System, monitors the suitability of HSE policy
to evolving business conditions. By adopting this policy, Maire
Tecnimont is committed to:
identify the health, safety and environmental impacts arising
from past, present or planned business activities;
identify applicable legal and other requirements to which Maire
Tecnimont is bound (including national and international laws,
local requirements, agreements with local authorities or
customers, voluntary principles or codes of practice);
set appropriate HSE priorities and targets;
establish organizational structures and programmes to
successfully achieve these objectives and targets;
implement control, monitoring, preventive and corrective actions,
and audit and review activities so as to ensure good functioning of
the HSE Management System;
ensure flexibility in adapting to changing circumstances and new
cultural behaviours.
Objectives, targets and programmes are summarized in the HSE
improvement plan issued under the responsibility of the Group’s
top management. The HSE system is supported by internal
procedures which are structured on different hierarchical levels
and tailored to specific operating needs, activities and organizational
factors. The system also defines the requirements for each location
and provides for the keeping of relevant records. This allows the
Group to monitor HSE objectives and targets, to evaluate possible
deviations and to implement remedial action. Regular HSE
monitoring of sub-contractors is also of crucial importance.
22 23

The HSE Management System defines the duties and responsibilities
of key personnel involved in the system. Each Head of Department
reports periodically to the Quality & HSE Department on the status
and performance of his or her department with regard to HSE issues.
The Quality & HSE Department periodically updates the HSE
Management System through collaboration with relevant business
associations, universities, and national and international authorities.
It also develops an internal audit programme to verify conformity to
requirements and correct implementation. The audits are conducted
by independent personnel in order to ensure the objectivity and
impartiality of the audit process. Top management is kept constantly
informed about audit results and regularly reviews the performance
of the HSE Management System in order to ensure its continuing
effectiveness and improvement.
Developing Human Resources and Cultural Sensitivity
Maire Tecnimont considers human resources to be its main asset.
The loyalty, professionalism and passion of our employees are the
most important corporate success factors. This vision is reflected in
the human resources activities and initiatives developed in the last
few years with the aim of reinforcing our employees’ sense of
affiliation and Company spirit.
In 2008, human resources management and development were
focused on strengthening the Power and Oil & Gas business units,
while the Chemicals & Petrochemicals and Infrastructure and Civil
Engineering units were provided with the means to improve their
effectiveness. The HR Department is committed to fully supporting
business growth through a selective hiring policy aimed at
balancing strong expertise with the energy and skills of youth.
A large number of new graduates in technical disciplines were
hired, especially from engineering schools. This was facilitated by
the long-standing close relationships between Maire Tecnimont
and the main Italian universities. In particular, the Group is in
constant cooperation with the Milan and Turin Polytechnics to
provide internships and on-the-job project works, joint seminars
and workshops, research programmes on matters of common
interest, and recruitment events.
Growth in human capital has been based on two main guidelines:
(i) an increase in the number of personnel, and (ii) the
development of professional competences and management
skills. Thanks to a strong attraction and retention policy, the
number of Group employees grew from 2,952 in 2006 to 4,272 at
the end of 2008, of whom 52% were university graduates or the
equivalent. As an international company with a global workforce,
Maire Tecnimont encourages the mobility of its employees in
order to develop their professional growth and loyalty. In order to
support new foreign employees, especially those from India, the
Group has implemented an expatriate assistance programme that
includes the handling of all immigration procedures and similar
issues and the provision of economic support for employees and
their families.
The professional skills of the Maire Tecnimont workforce have been
developed through training initiatives focusing on project
management, performance monitoring, careful assessment of the
skills and capabilities of the Group’s managers and professionals,
and the fostering of the foreign language skills that are needed in
the increasing internationalization of the business.
Training initiatives have been directed at all Group companies and
employees, with the aim of fostering integration and networking,
the promotion of a common value-based culture and the exchange
of workplace experiences. These objectives are especially important
since a large number of employees hired in the last three years
comes from an international background - 645 from India and 52
from South America, compared with 664 from Italy.
As further evidence of the importance of the human factor in our
success, it is worth mentioning the strong commitment of the teams
involved in redesigning the organization following the merger of
Maire Engineering into Tecnimont. These teams played a
fundamental role in developing synergies among business lines
through the sharing of know-how and the mutual exchange of
experiences and expertise throughout the Group.
24 25

Quality Policy and Quality Management System
Maire Tecnimont has implemented a tailored Quality Management
System (QMS) in accordance with ISO 9001:2000 standard to develop
policies and objectives which take into account specific customer
needs and a general requirement to continually improve quality
performance. An action plan concerning a new version of the
standard (ISO 9001:2008) is currently being implemented and
should be completed by the end of 2009. The general objectives of
the quality policy are the following:
understanding and meeting customer needs;
fulfilment of contract obligations and meeting technical and
economic requirements;
compliance with statutory and regulatory obligations (standards
and codes in force in the country of destination).
The quality policy is communicated to Company personnel through
the Quality Manual and corporate intranet and is also displayed at
prominent locations in Maire Tecnimont’s offices. Every employee
and each department carries the responsibility of achieving its
objectives through accurate document control, equipment
supervision, monitoring of construction, and handover activities.
Maire Tecnimont top management strives continually to improve the
effectiveness of the Quality Management System through a periodic
review of results, remedial action in the case of deviations, and
organizational changes that could affect the QMS itself. The review of the QMS
is carried out by analysing the QMS Report, which consists mainly of feedback
from customers, coupled with audit results, process performance, and product
conformity analyses.
The QHSE Vice-President is the management representative with responsibility
for Quality. The basic references of Maire Tecnimont Group’s QMS
documentation are the Code of Ethics and the Organizational and Management
Models (according to Italian Legislative Decree 231/2001). Other relevant
documentation includes the Quality Manual and Quality Policy, Organizational
Procedures, and Work Instructions. The QHSE Department establishes and
maintains an internal audit programme to verify conformity, effectiveness,
results and possible improvements to QMS. During 2008, 26 system audits to
departments and 95 project audits were performed. The audits are conducted
by qualified internal personnel, independent of the area being examined. In
addition, Maire Tecnimont auditors carry out external audit activities on
vendors and subcontractors during the qualification, manufacturing/service
provision and construction phases.
The Tecnimont Quality Management System’s compliance with ISO 9001 was
certified by Det Norske Veritas (DNV) in a certificate reissued on February 4,
2007. Yearly re-assessment audits have been performed with positive results
since then. Tecnimont’s certification dates back to 1995. Services covered by
the certificate include: project management, basic and detailed engineering,
procurement, construction and installation management and turnkey supply of
industrial plants (in particular relevant to chemicals and petrochemicals, oil
and gas, and power) and infrastructures.
26 27

6
RESEARCH,
TECHNOLOGY AND
INNOVATION
World-Scale Engineering and Contracting Based on
High Technology
The world-class references and reputation won by Maire Tecnimont
in executing large complex projects over several decades are due to
the Group’s strong technology orientation. Success in all our sectors
- Chemicals and Petrochemicals, Oil & Gas, Power, Infrastructure
and Civil Engineering – is closely linked to high added value
technological expertise.
Maire Tecnimont’s historical roots, going back to the engineering
skills developed by Montecatini, Edison, and Fiat in the early years
of twentieth century, have created a culture of technological
innovation in the Company. This has allowed it to consolidate a
leading position in polyolefin technologies, based on the pioneering
work of Nobel Prize winner Giulio Natta in the 1950s, and, at the
same time, to introduce new processes in the chemicals,
petrochemicals and oil & gas sectors, and to diversify into power
and infrastructure engineering.
This innovatory spirit is now an important driver for all the Group’s
business lines. In recognition of our technological expertise,
technology licensors regularly entrust us to perform studies
(feasibility studies, plant optimization, value engineering, etc.) to
support their process development activities.
Finally, the key to implementing technology innovations
successfully and to making them applicable to large industrial
complexes is advanced project management expertise - the proven
capability to manage large international projects. Project
management skills are crucial in realizing not only EPC plants but
every large project that involves technical complexity, limited
resources, and a stringent time schedule. To initiate, develop and
complete the whole EPC project life-cycle, especially under difficult
geographical and cultural conditions, is to deal with major
organizational challenges in which planning, coordination and
monitoring are the day-to-day essentials. To execute a project is to
create a mosaic of hundreds of parts that have to fit together.
Engineers, vendors, sub-contractors, thousands of on-site workers,
28 29

client representatives, financing partners, consortium partners,
local and international institutions: all these different players have
to be coordinated as if in a symphony orchestra, with the project
manager acting as conductor. For a leading international
engineering contractor such as Maire Tecnimont, first-in-class
project management skills are just as important as technological
expertise and a spirit of innovation for its business success.
An International Network of Engineering Excellence
Milan is the headquarters of Tecnimont, employing over 1,050
professionals. It represents a world-class patrimony of engineering
expertise, technological and process innovation and project
management skills, and plays a leading role in engineering,
procurement and construction (EPC) projects in the chemicals,
petrochemicals and oil & gas industries. Thanks to a global IT
platform, the Milan headquarters also coordinates the activities of
the Group’s worldwide network of subsidiaries, branch and
representative offices.
Headquartered in Mumbai, the wholly owned subsidiary Tecnimont
ICB Pvt Ltd (TICB) is one of the few Indian engineering and
construction companies with experience in executing worldwide
lump-sum turnkey projects. It also provides multi-disciplinary
engineering services to the entire spectrum of Maire Tecnimont’s
business lines. With over 1,800 highly qualified and experienced
specialists and a capacity of almost three million engineering manhours/year,
TICB has worked on more than 350 reference projects.
TICB’s Electrical & Instrumentation (E&I) Construction Division is
an important asset for the entire Group in successfully delivery of
turnkey projects, because of its expertise in procurement, field
engineering installation, testing/calibration and commissioning.
Salzgitter is the headquarters of the German subsidiary Tecnimont
Planung und Industrieanlagenbau GmbH (TPI). The company,
wholly owned by Tecnimont, specializes in the design of LDPE
plants, based on High Pressure Tubular Reactor technology. TPI
employs about 50 engineers, 90% of whom are university and
technical college graduates. TPI’s deep technological experience
makes Maire Tecnimont a member of the exclusive worldwide club
of engineering companies with a good reputation in the design of
high pressure units.
Sofregaz, based in Paris, is among the key players worldwide in the
design and construction of LNG receiving terminals, with
capabilities ranging from feasibility studies to complete project
development and implementation. Sofregaz has about 130
employees and has completed over 800 projects in 50 countries
covering the whole natural gas chain - field gathering, treatment,
transport, underground storage, liquefaction, and regasification.
The Turin engineering centre dates back to the 1930s, when it was
the Construction and Plant Division of Fiat. Decades of experience
have given it unparalleled expertise in the design and construction
of complex civil/industrial buildings and transportation
infrastructure, specifically high-speed railways and mass
transportation systems, in Italy and abroad. The Turin centre, which
has about 450 staff, also has considerable expertise and numerous
references in the power sector - coal-fired power plants, gas
turbine combined cycles (GTCC), and hydroelectricity generating
units.
The Rome centre, which employs about 150 people, specializes, in
close cooperation with the Turin centre, in underground and aboveground
railway systems. It also offers facility management, real
estate and project financing services.
Over the last 20 years the Brindisi engineering centre has played a
major role in the development and industrial-scale implementation
of new polyolefins technologies. The centre, which has about 70
staff, has developed specific know-how in LyondellBasell’s
Spherizone polypropylene (PP) technology worldwide.
Noy Engineering, based in Bergamo, has 25 employees. It has been
active since the 1980s in the design and construction of plants for
the chemicals, textiles, energy and environmental sectors, working
mainly with proprietary technologies. Acquired by Maire Tecnimont
in 2008, it enriched the Group’s portfolio by adding polyethylene
terephthalate (PET) resin and polyester, nylon 6, nylon 6.6, and
acrylic fibres know-how and technology.
30 31

The Belo Horizonte engineering centre, with more than 50
employees, is the Brazilian headquarters of the Group, specializing
in the design and construction of infrastructure, power plants and
civil/industrial buildings. It is supported by the Group’s other
Brazilian office in São Paulo, which has 30 employees. The latter
has inherited Tecnimont’s expertise and references in the
chemicals, petrochemicals and oil & gas sectors.
The World of Chemicals & Petrochemicals:
Deep Knowledge and Client Confidence
Maire Tecnimont has designed and built a large number of chemical
and petrochemical plants, mainly for polyethylene, polypropylene,
ethylene oxide, ethylene glycol, purified terephthalic acid (PTA),
ammonia and fertilizers. The Group offers a wide range of
competences from feasibility studies to front-end engineering
design (FEED), technology selection and project implementation on
a lump-sum turnkey basis.
Maire Tecnimont’s know-how in polyolefins (polypropylene and
polyethylene) is outstanding. Not only is the Group included in the
shortlist of preferred engineering contractors for many patented
technologies, but in many cases we develop the process design
package (PDP) for the licensor itself. The PDP is the know-how
documentation delivered by the technology provider to the
contractor. Maire Tecnimont’s internal guidelines and systems for
the proper handling and management of proprietary information
mean that we can, and do, work with competing processes and still
protect confidentiality of information. Expertise in various
technologies is of the utmost importance in creating client
confidence that the Group is the right partner from technology
selection to plant start-up.
Towards the Future of Energy:
Power Technology and Renewables
Following the acquisition in 2001 of Fiat Avio Power Division, with its
special know-how in power plants and state-of-the-art gas
turbines, the Group has developed a significant track-record in
designing and building some of the most advanced power projects
in Italy and abroad. These include simple-cycle and combined-cycle
gas-fired plants, coal-fired power stations, cogeneration,
repowering, electricity and energy distribution systems for civil and
industrial use, and district heating systems.
Based on its experience in combined-cycle power plants – used for
both electric power production and cogeneration of power and heat
- Maire Tecnimont has developed specific expertise in the automatic
control of power output and start-up and shutdown procedures.
This allows a power plant to operate with a very high flexibility at
times of fluctuating demand.
Besides traditional power plants, Maire Tecnimont also offers
significant expertise in hydropower, which it developed in South
America. Our interest is also progressively focusing on the
promising renewables (or green) market, in particular on electricity
generation using concentrating solar power or biomass. In these
technologies, solar radiation is captured or solid biomass (e.g.
wood) is burnt in the first, innovative section of the plant. The heat
produced is captured by a heat-transfer fluid and used in the
second, traditional section of the plant to raise steam that drives an
electricity-generating turbine. The Group’s biomass technology is
being implemented in the Olevano Lomellina pilot plant (see
Chapter 9 on ongoing power projects).
Research and Development on New-Concept Nuclear
Power Plants
Leveraging on its strong track record, Maire Tecnimont is pursuing
a forceful strategy to develop skills and competences in nuclear
power plants, in order to reinforce and diversify its presence in
electricity generation.
The future for new-concept nuclear plants looks bright in a number
of countries, driven by increasing energy consumption, the search
for a balanced energy supply, and the need to reduce CO 2
emissions 1. In 2008 Maire Tecnimont joined an international
research team led by Westinghouse Electric Co. developing the IRIS
(International Reactor Innovative and Secure) 335 MW light-water
reactor.
Many smaller and developing countries are seriously considering the
nuclear option, but are faced with a number of local conditions: a small
electric grid, limited financial resources, no nuclear experience, and
1 According to international data, 40% of CO2 emissions currently come from electricity production.
32 33

poor infrastructure. That is why large nuclear power stations, as
currently planned in countries with an established nuclear industry, do
not respond to their needs. By contrast, smaller reactors are being
developed for countries considering nuclear energy for the first time.
IRIS should provide unique benefits to small countries, but is also an
attractive option for larger developed nations.
The IRIS consortium, consisting of 19 organizations from nine
countries, includes industrial companies, research laboratories,
government organizations, universities and power producers. The IRIS
design philosophy is represented by three words: simplicity, economy,
and safety. In addition to electricity production, IRIS is designed for
co-generation, district heating and biofuels production using
low-pressure steam, and can also be coupled with a desalination plant
to produce fresh or potable water.
Maire Tecnimont’s involvement relates to the so-called Balance of
Plant (BOP) of the reactor. IRIS’s main features include its very small
emergency planning zone and its simpler, cheaper design, which
compensates for lower economies of scale. Furthermore, there can be
financial advantages in installing several small reactors of the IRIS
type instead of one big reactor of similar capacity - the so-called
economy of multiples. The Design Certification Review should be
completed in the next three years and the first reactor built by 2017.
High Technology in the Natural Gas Chain
Maire Tecnimont Group, through its Paris-based subsidiary Sofregaz,
is a recognised worldwide player in the natural gas market. Sofregaz
provides specialist services covering the full chain from field
gathering, treatment, transportation and underground storage to
liquefaction and regasification. Sofregaz has developed expertise to
provide the best technological solutions to clients’ demands. Its
portfolio includes a unique design capability for LNG regasification
equipment, including boil-off gas recondensers, patented
technologies for gas dehydration and air cooling of gas turbines.
Sofregaz is currently working on a number of projects worldwide,
including a syngas purification unit, a biomass-to-liquid (BTL) unit,
CO 2 capture, and the recovery of gas that is currently flared.
CO2
Storage
Capture
Transport
CO2
CO2
Storage
CO2
Oil or Gas
Buffer storage
facility
Methane
Deep aquifers Depleted oil and gas fields Unmineable coal seams
CARBON CAPTURE AND STORAGE
34 35
CO2
CO2
CO2
New Technology to Combat the Greenhouse Effect:
Carbon Capture and Storage
Climate change and energy demand are the two major challenges of
the future. It is widely recognised that fossil fuels will continue to
play a central role in world energy supply, which will inevitably lead
to an increase in global CO 2 emissions. According to the
International Energy Agency, approximately 69% of world CO 2 and
60% of greenhouse gas emissions are related to energy. CO 2 is
therefore considered to be one of the main enemies of global
sustainability. Without policy changes, CO 2 emissions are predicted
to rise by 130% by 2050. Carbon capture and storage, which can be
applied to fossil fuel power plants and industrial processes, is one
of the most promising technologies for mitigating this trend.
Through its subsidiaries TICB and Sofregaz, 2 Maire Tecnimont is
becoming a key player in this promising market. As preferred
contractor of one of the major licensors, it has built several plants
in which CO 2 is recovered from flue gases and used to boost oil and
gas extraction, or to increase the output of existing urea plants. This
technology, now applied mostly to small-scale plants, could become
a potentially huge market if applied to major power stations. In
2008, for example, Tecnimont was awarded a contract for the frontend
engineering design of a CO 2 capture plant to be installed at the
gas-fired power station in Karsto, Norway. This will be the world’s
largest application of this technology. Similar designs and studies
are being carried out for important clients in the Middle East.
2 Sofregaz is member of the Club CO2, formed in 2002 on the initiative of ADEME (Agence de l’Environnement
et de la Maitrise de l’Energie) with the support of IFP (Institut Français du Pétrole) and BRGM (Bureau de
Recherches Géologiques et Minières). It represents a key element in the organization of French research
into CO 2 capture and storage.

Advanced Technological Innovation in
Transportation Systems
Maire Tecnimont plays a major role in the design and construction
of transport systems, including railways, and in particular Italian
high-speed lines, underground railways, highways, motorways
and tunnels. The Company provides a combination of hightechnology
and environmentally sustainable mass transportation
systems, with a full set of services ranging from environmental
impact assessments and other permitting activities to the
efficient management and coordination of specialist expertise.
Maire Tecnimont is committed to technological innovation in
Transportation System Infrastructure. The Group applies the
most advanced telecommunication and information technology
network systems to this sector, which leads to enhanced levels of
efficiency and passenger safety.
In 2001 the Tecnimont engineering department developed the
Communications Network for an Integrated Urban Transport
System, which was subsequently installed on the Turin automatic
subway. It consists of a fibre optics network using TCP/IP over
Ethernet to convey data, voice, high-quality audio and digital video
signals from underground stations to the control centre. It can
generally be used in any technologically advanced urban
transport system and represents the best telecommunications
solution in terms of flexibility, cost, and protocol and coding
algorithms standardization.
The Group is constantly searching for the most suitable partners and
suppliers in order to obtain the best system architecture by
integrating the electrical, traction, automation, telecommunications,
signalling and mechanical systems. We are currently evaluating
international partnerships and/or supply to complete our
technological package with the latest CBTC (Communication Based
Train Control) systems.
Infrastructure Technologies Owned by Maire Tecnimont Group
Patent no. IT 0001352181
Main Licensors - Infrastructure
36 37
Technology
VAL System
Technology
Communication network for an
integrated urban transport system and
urban transport system using such a
communications network
Siemens Transportation
System SA to Transfima
GEIE (a Tecnimont - Siemens
TS SA company)
Tecnimont
Licensor Country
Italy (Turin)
Chemical and Petrochemical Technologies Owned by Maire Tecnimont Group
Licensor Country
Nylon 6 Noy Italy
Nylon 6.6 Noy Italy
PET Noy Italy

Main Licensors – Polymers, Chemicals & Petrochemicals
Technology
Polypropylene
LLDPE/HDPE
LDPE
HDPE
Basell Poliolefine
ChevronPhillips
Borealis
Borealis
Basell Poliolefine
Sumitomo
ExxonMobil
Basell Polyolefine
ChevronPhillips
Mitsui Chemicals
Basell Polyolefine
Italy
USA
Austria
Austria
Italy
Japan
USA
Germany
USA
Japan
Germany
Polystyrene (EPS, HIPS, GPPS) Polimeri Europa Italy
ABS Polimeri Europa Italy
ESBR, SBS, SB, LCBR Rubbers Polimeri Europa Italy
Steam cracking (for ethylene,
propylene, etc)
Ethylene oxide and ethylene glycols
Shaw Stone & Webster USA
Scientific Design
Shell
USA
The Netherlands
Acrylonitrile Ineos Nitriles USA
Purified terephthalic acid (PTA) Mitsubishi Chemicals Japan
Pyrolysis gasoline
Hydrotreating
Axens
UOP
France
USA
Butadiene extraction Nippon Zeon Japan
Dicyclopentadiene Axens France
Butene-1 from ethylene dimerization Axens France
Propane/isobutene
Dehydrogenation
Licensor Country
Lummus
UOP
USA
USA
Acetone cyanohydrin & MMA Repsol Spain
Phenol/acetone UOP USA
LAB UOP USA
Ammonia Kellogg Brown & Root USA
Urea Stamicarbon The Netherlands
Urea granulation Uhde Fertilizer Technology The Netherlands
CO 2 Capture Mitsubishi Heavy Industries Japan
Gas Technologies Owned by Maire Tecnimont Group
Patent no. FR0100651
Patent no. FR0309895
Main Licensors - Oil & Gas
Process for gas drying and installation
for the implementation of
the said process
Process to increase the capacity
and efficiency of gas facilities
using a gas turbine
38 39
Technology
Topping/vacuum
FCC/RCC
Catalytic reforming
Isomerization
Butene alkylation
Hydrotreating
UOP
Axens
UOP
Axens
UOP
Axens
UOP
Axens
Stratco-DuPont
UOP
Axens
UOP
AkzoNobel
Shell
Sofregaz
Sofregaz
USA
France
USA
France
USA
France
USA
France
USA
USA
France
USA
The Netherlands
The Netherlands
Visbreaking Axens France
Gas liquefaction
Acid gas removal
Mercaptans removal
Sulphur recovery unit (Claus)
Gaz de France
Linde
UOP
BASF
Shell
UOP
Merichem
Jacobs
Lurgi
Shell
Sirtec Nigi
Worley Parsons
ExxonMobil
France
Germany
USA
Germany
The Netherlands
USA
USA
The Netherlands
Germany
The Netherlands
Italy
UK
USA
Delayed coker Lummus USA
Aromatics (BTX) extraction
Licensor Country
UOP
Axens
USA
France

7
CHEMICALS &
PETROCHEMICALS
2008 will be remembered as a peak year for engineering and
construction in the cycle that started in 2005. The first six months
saw the completion of several large-scale projects, mainly in the
Middle East and Asia, which contributed to a significant growth in
world production capacity. The increasing oversupply was then
compounded by a downturn in the world economic cycle. Several
leading chemical producers found themselves in financial
difficulties. In a few cases, restructuring plans were announced and
new investments postponed. Even companies that were less
severely affected have delayed their investments in order to benefit
from the expected reduction in material costs.
Current expectations in the industry are for a period of
consolidation. However, the longer-term outlook indicates that
production will continue to migrate from areas such as North
America and Europe towards the Middle East and Asia, which have
lower production costs. Despite the economic difficulties, Maire
Tecnimont has maintained its market share and leadership position
in polyolefins, and we continue to see interesting new opportunities,
particularly in the Gulf Cooperation Council (GCC) countries.
The Group has also started to diversify into new business areas and
new markets. We have formed strategic alliances with important
technology providers in fertilizers, synthetic rubber/elastomers and
aromatics derivatives. In addition, new joint ventures with local
partners will facilitate access to the North African market, where
significant investments are planned in coming years.
40 41

Middle East and Mediterranean Area:
Consolidated Leadership and New Opportunities
The Middle East and North Africa (MENA) is the world’s most
influential oil and gas region, accounting for two-thirds of the world’s
proven oil and about 45% of its proven natural gas reserves. Thanks to
new discoveries and the introduction of advanced exploration and
production techniques, the region's oil wealth has grown solidly for the
past two decades. The GCC countries have traditionally been the main
players in the region, but North African countries have grown in
prominence recently. Maire Tecnimont has been active in MENA since
the investment boom of the eighties. The Group’s presence has
increased significantly in the last few years and we have become a
leading engineering and construction player, especially in the
petrochemicals sector. Maire Tecnimont has won contracts worth
more than US$4.5 billion in the investment boom in Saudi Arabia, the
United Arab Emirates, Qatar, Kuwait and Bahrain. In 2008 Engineering
News-Record, the leading US journal for the E&C industry, ranked the
Group as the 10th largest engineering contractor in the Middle East.
Maire Tecnimont has also grown in stature and reputation in Egypt,
Libya, and other North African countries.
Maire Tecnimont is present in MENA with branch and representative
offices in Abu Dhabi (UAE), Kuwait, Qatar, Tehran (Iran), Tripoli
(Libya), and a wholly owned subsidiary, Tecnimont Arabia Ltd, in
Jeddah (Saudi Arabia). In 2008, more than 50% of Group revenues
came from this area. MENA is increasingly attracting investment
from leading international petrochemical producers because of its
abundant hydrocarbon resources and favourable geographical
position bridging East and West.
Rabigh, Kingdom of Saudi Arabia
At a cost of more than US$9 billion, the client is building one of the
world’s largest integrated refinery and petrochemical complexes at
Rabigh on the Red Sea, about 160 km from Jeddah. Our contract,
awarded in 2006, is for the construction of the polyolefins units. The
Petro Rabigh project marks the entry of Aramco into the
downstream petrochemicals industry, as well as the first large
investment by Sumitomo Chemical in Saudi Arabia.
The Tecnimont-led consortium completed the project and handed it
over to the client at the end of November 2008. For Tecnimont, it
was an important achievement because of its size and
diversification of technology, and also because of the business
relationships forged with two prestigious new clients, Aramco and
Sumitomo Chemical.
In November 2008, the jury named the Rabigh project the prize
winner at the 2008 International Project Management Association
(IPMA) International Project Excellence Award meeting in Rome.
Contract type: EPC lump-sum
Client:
Petro Rabigh, a jv of Sumitomo
Chemical Co. (Japan) and Aramco
(Saudi Arabia)
Contractor: A consortium of Tecnimont (leader) and
Sumitomo Chemical Engineering Co.
(Japan) for offshore activities; a
consortium of Tecnimont Arabia and
AICO (Saudi Arabia) for onshore
activities
Contract value: US$1,200 million (Tecnimont share 60%)
Capacity and two PP lines, each of 350,000
technology: tonnes/year; 250,000 tonnes/year
EPPE; 350,000 tonnes/year LLDPE;
300,000 tonnes/year HDPE (all using
Sumitomo technology, with the
exception of a LyondellBasell
Hostalen HDPE unit); 50,000
tonnes/year of polymer-grade
butene-1 (Axens technology)
Contract type: EPC lump-sum
Client:
Saudi Ethylene and Polyethylene
Company (SEPC) – a jv of Tasnee
Petrochemical (45.3%),
LyondellBasell (25%), Sahara Co.
(24.4%) and GOSI (5.3%)
Contractor: Tecnimont
Contract value: ¤525 million
Capacity and 400,000 tonnes/year HDPE
technology: (LyondellBasell Hostalen
technology); 400,000 tonnes/year
LDPE (LyondellBasell Lupotech T
technology)
Contract type: EPC lump-sum
Client:
Borouge, a jv of Abu Dhabi National
Oil Co. and Borealis
Contractor: Tecnimont
Contract value: US$1,900 million
Capacity and two PP lines, each of 400,000
technology: tonnes/year; 540,000 tonnes/year PE
(Borealis Borstar technology for both
products)
Tasnee, Al Jubail, Kingdom of Saudi Arabia
The client is setting up a large petrochemical complex costing
about US$2.4 billion at Al Jubail. In 2006 Tecnimont won a contract
for the construction of HDPE and LDPE plants with a total capacity
of 800,000 tonnes/year, the largest in the world to be based on the
LyondellBasell Hostalen and Lupotech T processes. The complex is
centred on a large ethylene plant supplied by another contractor.
Thanks to its experience in polymers, its excellent relationship
with LyondellBasell and its knowledge of the Saudi Arabian market,
Tecnimont was selected by Tasnee in a negotiated open-book,
cost-estimate approach, which was then converted into a lump-sum
contract. The HDPE plant was handed over to the client and
successfully started production in November 2008. The LDPE unit
began production in early 2009. The project was financed by a mix
of equity and loans. Credits were arranged by HSBC as the lead
bank, with the support of SACE, KEXIM and KEIC for export
guarantees and insurance-covered loans.
Borouge 2, Ruwais, Abu Dhabi, United Arab Emirates
The Borouge 2 project, awarded to Tecnimont in April 2007, calls
for the construction of three polyolefins units, together with
associated materials handling facilities, laboratories and marine
installations. One of the largest integrated petrochemical
complexes ever awarded on an EPC lump-sum basis, it is also the
largest contract in Tecnimont’s history. The project is on
schedule, with about 87% of the engineering completed by the
end of December 2008. Purchase orders placed covered about
85% of the equipment and materials, and approximately 50% of
the materials had already been delivered to the site. Ten million
man-hours had been spent on construction, which was 40%
complete at the end of 2008. The marine facilities were finished
on schedule and the whole project should be completed by the
second half of 2010. The excellent long-term relationship with
Borouge contributed greatly to the project’s success and will
further strengthen Maire Tecnimont’s hand in bidding for a large
new petrochemicals expansion (Borouge 3), contracts for which
will probably be announced in 2009/2010.
In December 2007 Borouge gave Tecnimont another contract,
worth approximately US$28 million, to expand the PE1 line it
installed in 2001. Key success factors here were Tecnimont’s
excellent performance in the Borouge 1 project, its successful
revamping of the PE2 line in 2004, and its ongoing performance in
the Borouge 2 expansion. The project was completed on schedule
in February 2009.
42 43

Statement by Pal Theie, Vice-President, Projects &
Technical Support, Borealis
“Today Maire Tecnimont is among our most important contractors, engaged
with the construction of our new LDPE plant in Sweden and our three new
Borstar plants in Borouge 2, the expansion of our joint venture in Abu Dhabi.
Maire Tecnimont thereby continues to expand the high number of polyolefins
plants realized by utilizing our advanced technologies worldwide, in UAE,
Austria, Belgium, Finland, Sweden and China. The LD5 plant in Sweden will
be the world’s largest plant for producing polyethylene resin for the Wire &
Cable industry, and is the largest polyolefins project in Europe to date.
The decision of contracting Maire Tecnimont the multi billion petrochemical
project Borouge 2 in Abu Dhabi - UAE has strengthened our business
relationships based on a long-lasting contractor-client loyalty. Our relationship
dates back to 1962, based on a strong collaboration with the then engineering
centre of Montecatini, reputed for its high capabilities thanks to the heritage
left by Professor Giulio Natta, Nobel prize winner in 1954. Borouge 2 is the
most important project to date using our advanced technology "Borstar". The
Borstar technology - state-of-the-art multi modal proprietary technology for
PE and PP - is the core ingredient of Borealis and Borouge value creation
through innovation strategy in Europe and Middle East. With Borouge 2, we
intend to satisfy the boosting demand of polyolefins products in the world."
Growing Opportunities in Egypt
Egypt and its 80 million people represent a promising internal market, growing at annual rate of
3-4%. Leveraging on the country’s large gas reserves, the Ministry of Petroleum is pursuing a 15-year
development plan aiming at increasing petrochemical production from the current 1.5 million
tonnes/year to 15 million tonnes/year, with a total investment of about ¤20 billion. The plan will be
implemented through Egas, EGPC and ECHEM, the government holding companies for natural gas, oil
and petrochemicals.
In February 2008, Tecnimont signed an agreement with the Egyptian Petrochemicals Holding
Company (ECHEM) to form a new company incorporated in Egypt to provide engineering and
management services for the construction of industrial plants in Egypt and neighbouring countries.
The new company is jointly owned by Tecnimont, ECHEM and the Egyptian Petroleum Projects &
Technical Consultation Co. (PETROJET).
Later in the year Tecnimont signed a further contract with Egypt’s state-owned Engineering for the
Petroleum & Process Industries (Enppi) to provide PMC (Project Management Contractor) services for
a 200,000 tonnes/year polystyrene plant at Alexandria. The services will be provided on a reimbursable
basis. These initiatives are part of a wider effort to strengthen the Group’s presence in North Africa in
the oil, gas and petrochemical industries.
Long-Standing Presence in the Russian Federation
Maire Tecnimont has been present in Russia and countries of the former Soviet Union for more than
70 years. The cooperation dates back to the 1930s, when Montecatini was active in technology transfer
and fertilizer plant construction. The first permanent representative office was opened in Moscow at
the beginning of the 1960s. Since then, the Group has supplied plants for basic chemicals,
intermediates, and fine chemicals and in recent decades has also been active in petrochemicals,
power and infrastructure.
To date, the Group has completed 50 projects worth about US$2 billion in the former Soviet Union. In
2007 it founded a subsidiary in Moscow to provide engineering services for this market and is currently
building five plants, worth about ¤700 million, in various parts of the Russian Federation - Tatarstan,
Bashkiria, western Siberia and the Arctic region. Clients include national oil ministries, public utilities
and private investors. We believe there is great potential in the Russian market because of its large
energy reserves and the need to make local plants compliant with European Union regulations.
Europe: Engineering Capabilities and Selected Projects
Investment in chemicals and petrochemicals is increasingly turning away from
the mature markets of Europe and North America towards hydrocarbon-rich
emerging countries. However, Europe still has a strategic role in the
development of selected projects, partly as a result of its excellent historical
tradition in E&C services. Maire Tecnimont’s European engineering centres
represent a major portion of its international E&C network, and provide
multi-disciplinary services to all its business units, especially in chemicals and
petrochemicals. Maire Tecnimont is currently working on several projects for
prominent clients in central Europe, both in the traditional petrochemicals
sector and in new chemical technologies linked to green energy production.
44 45

Münchsmünster, Germany
The contract is to design, supply and build a new HDPE plant at the
Münchsmünster Industriepark in Bavaria. LyondellBasell is a
historic and strategic partner of Tecnimont and the worldwide
leader in polypropylene production and polyolefins technology. The
plant will replace a former PE unit at the site that has been shut
down after many years of operation. The new HDPE plant will have
a larger capacity than the old unit and use the best available
technology. The LyondellBasell Hostalen process will produce
higher throughputs of PE and an important variety of polymer
grades. The project is based on Tecnimont's experience in the
construction of the HDPE plant at Plock, Poland, for the Basell joint
venture with PKN Orlen several years ago. That project is being
used as a reference for the new design. The history of the industrial
area of Münchsmünster and the interface with local authorities,
together with stringent European, German and Bavarian
environmental regulations, make this a significant project in terms
of plant design. Engineering and procurement activities were
virtually completed in 2008. The project is nearing the end of
the construction phase before entering pre-commissioning. The
Bratislava, Slovak Republic
In September 2008, Slovnaft Petrochemicals sro, a member of the
MOL Group and one of the largest players in the European polyolefins
market, awarded Tecnimont a contract for the basic design
engineering package for a 220,000 tonnes/year low density
polyethylene plant. The project is part of the Slovnaft Petrochemicals’
development plan in Bratislava. It was Tecnimont’s first contract in
the Slovak Republic. The LDPE–4 project in Bratislava will be
developed on open-book basis, including the provision of license and
services for the development of the complete basic engineering
design package and total investment cost estimation, for further
conversion into a lump-sum, turnkey contract. The plant, based on
the state-of-the-art LyondellBasell Lupotech T tubular high-pressure
process, will be completed in 2012. The contract confirms
Tecnimont’s excellent relationship with the MOL Group, for which it
has already built two polypropylene plants in Hungary.
Contract type: EPC lump-sum
Client:
LyondellBasell
Contractor: Tecnimont
Contract value: ¤200 million
Capacity and 320,000 tonnes/year HDPE
technology: (LyondellBasell Hostalen technology)
Oil or Gas
WELL
UPSTREAM MIDSTREAM DOWNSTREAM
GOSP
Gas Oil
Separation
Plant
GAS
OIL
Gas
Treatment
hand-over to the client is expected to be in the last quarter of 2009. Silfab: Serving the Photovoltaics Industry
Separation
Oil
Refining
Fractionation
Topping
Vacuum
Methane
Ethane
C3/C4 GPL
C5 Penthane
GPL
Naphtha
Kerosene
Diesel Oil
FCC
Sulphur
recovery
Pipelines
Liquefaction
Petrochemicals
other products
Ethylene
Petrochemicals
other products
Gasoline
Aromatics
Steam Cracking
Fuels
Fuels
GPL, Diesel and
Lubrificants
Propylene
Gasoline
Asphalts
Petrochemicals
polyolefins
Petrochemicals
polyolefins
MAIRE
TECNIMONT
30% MARKET
SHARE
Automotive
Packaging
Wires &
Cables
Rubber &
Plastics
In February 2008, the Padua-based Silfab awarded Maire Tecnimont a contract for basic engineering
design services (FEED), main equipment procurement, permitting services and other support activities
for a new added value manufacturing plant. Silfab is a new company formed by entrepreneurs active for
more than 25 years in the photovoltaics industry. The overall investment will exceed ¤400 million and
Silfab plans to proceed with EPC activities in 2009. This contract represents Maire Tecnimont’s first entry
into photovoltaics, which we believe to have great potential, along with other areas of renewable energy.
The Group’s multi-business competences in the chemical and civil/industrial sectors will enable it to
offer the highest quality standards in industrial projects in other areas of advanced technology.
Venezuela: Strategic Opportunities in South America
THE HYDROCARBON PROCESS CHAIN
Tecnimont entered the Venezuelan market in 2008. Polinter, a subsidiary of the state-owned
Petroquímica de Venezuela SA (Pequiven), gave it a ¤90 million contract for the provision of basic
engineering design services and the procurement of long lead items for a 300,000 tonnes/year low
density polyethylene (LDPE) plant. The unit, based on LyondellBasell Lupotech T technology, will
form part of the El Tablazo (Zulia) petrochemical complex. Lupotech T is the world’s leading LDPE
technology, for which Tecnimont, thanks to its German engineering centre at Salzgitter, is the
preferred contractor. Part of the Olefinas Tercera y Polietilenos El Tablazo complex, the plant
forms part of the Indipendencia project, which will start up by 2011, the bicentenary of Venezuelan
independence. Some months later, Tecnimont signed a contract with Propilsur, a joint venture of
Braskem Pequiven, Petroquimica de Venezuela and Sojitz, for the provision of basic engineering
design services for the construction of a polypropylene plant at Jose, Venezuela. Both Venezuelan
projects are expected to be converted into EPC turnkey contracts.
In December 2008, Tecnimont signed a contract for front-end engineering design (FEED) and cost
estimates for new fertilizer plants - two 1,850 tonnes/day ammonia and two 2,200 tonnes/day urea
units - to be built at the Jose complex.
46 47

8
OIL & GAS
Tecnimont has developed considerable expertise and numerous
references in the oil & gas sector. Its French subsidiary Sofregaz is
recognized as a leading worldwide provider of services throughout
the entire natural gas chain. Tecnimont’s workload in recent years
has included LNG regasification terminals, aromatics complexes,
natural gas treatment plants and refinery units. In 2008 Maire
Tecnimont continued its repositioning in this expanding market
through commercial activities such as market development and
bidding as well as executing projects.
The Group continued to work on large EPC projects and on
engineering design and project management services for regasification
terminals, the latter being carried out by Sofregaz.
During the year Maire Tecnimont strengthened its position in the
LNG regasification market by winning five major service contracts,
and also by being selected as EPC contractor for the Wilhelmshaven
LNG terminal for DFTG of Germany. The last project, however, was
then shelved by the client.
Maire Tecnimont’s leading position in CO 2 capture and storage was
further strengthened by new FEED and tendering activities in 2008.
We continued to work in Iran by providing specialist engineering
services to natural gas treatment plants.
Europe and Natural Gas: a Strategic Challenge
Natural gas is the world’s largest source of energy after oil and coal,
and is the cleanest of the fossil fuels. For these reasons it will
continue to play a strategic role in the global energy mix. According
to the International Energy Agency, world demand for natural gas
will increase by 52% to 4.4 trillion cubic metres by 2030. Market
development is influenced by the proximity of reserves to areas of
demand. In this respect, Europe occupies a central position,
surrounded by the major gas-exporting countries of Russia,
Eurasia, the Middle East and North Africa.
The success of the European Union’s energy policies depends on the
development of a modern natural gas infrastructure to enable
European countries to diversify their sources and means of supply.
48 49

Gas gathering
& treatment
Natural Gas
liquefaction
THE NATURAL GAS CHAIN
New Gas Contracts and Projects Under Execution
in Europe
Maire Tecnimont and Sofregaz continue to contribute to the
development of the pan-European natural gas infrastructure. In
2008 the Group undertook new projects in gas storage and front-end
engineering design and project management services for LNG
terminals, whilst continuing the construction of one of Europe’s
most important regasification terminals.
New Gas Storage Project in Poland
Transportation
Tecnimont is part of a consortium executing a lump-sum turnkey
contract to develop a 1.2 billion cubic metres underground storage
facility at Wierzchowice for the state-owned Polish oil and gas
company (PGNiG). The consortium, led by the Polish company PBG,
includes Tecnimont and other two Czech companies.
Work started in November 2008 and is focused on the design,
procurement and construction of surface facilities. The entire project
will be completed within 36 months, by November 2011. Sofregaz
performed the first feasibility studies on the use of the depleted gas
fields in Wierzchowice for natural gas storage in the 1990s.
LNG storage and
regasification
Transmission and
compression
Underground gas storage
Users
Engineering Services and EPC Projects in Europe
In 2008 Maire Tecnimont’s expertise in natural gas was confirmed
by the award of several contracts for studies, front-end engineering
design and project management services for the construction of
LNG receiving terminals in Europe.
Sofregaz won a contract from Electricité de France (EDF) for frontend
engineering design and project management consulting for a
new 10 billion cubic metres/year LNG receiving terminal at
Dunkerque. The work has an estimated value of ¤26 million and
consists of three phases. It should be completed by 2015.
In Panigaglia, Italy, Sofregaz is performing front-end engineering
design and project management consulting services for the
expansion of GNL Italia’s existing LNG terminal from 3.5 billion
cubic metres to 8 million cubic metres capacity. GNL Italia, part of
the Eni Group, operates the only LNG regasification facility in Italy.
In 2008 construction continued on a second LNG terminal for
Société du Terminal Méthanier de Fos Cavaou at Fos-sur-Mer, near
Marseilles, in southern France. The engineering, procurement and
construction contract covering the design, materials supply and
realization of the terminal was awarded in 2004 to a joint venture of
Tecnimont, Sofregaz and Saipem. The new terminal will have a
capacity of 6.5 billion cubic metres/year and includes three 110,000
cubic metre storage tanks.
50 51

Maire Tecnimont Presence in Oil&Gas in Middle
and Far East
Kuwait: Completing the Major Aromatics Project Accident-Free
In February 2006, Kuwait Paraxylene Production Company (KPPC)
awarded the TSK consortium a lump-sum turnkey contract for the
construction of the first aromatics complex in Kuwait. The TSK
consortium was formed by Tecnimont and the Korean company,
SK Engineering and Construction. The complex, which will
produce paraxylene and benzene, is being built on a greenfield
site at Shuaiba, and is fully integrated into the larger EQUATE
project. Tecnimont is in charge of design, procurement and
erection, as well as pre-commissioning and commissioning
services. The complex uses environmentally friendly technology
to guarantee maximum safety, security and product quality. HSE
has been a top priority at all stages of the project’s history. The
consortium has trained more than 50,000 workers in basic and
higher HSE issues. As a result, Tecnimont has recorded 20 million
working hours without lost-time injury.
Far East: Developing FEED Projects for LNG Terminals
East Asia is one of the most important markets for Sofregaz, which
is developing technical supervision and commissioning services for
LNG terminals in Dalian and Jiangsu, China. The client is Huangjiu
Contracting and Engineering Corp, part of the Petrochina Group.
Sofregaz is developing for Guangdong Dapeng LNG the front-end
engineering design for an expansion of the existing LNG terminal at
Guangdong through the installation of a fourth LNG tank and
associated facilities. Tecnimont completed China’s first LNG
receiving terminal at Guangdong in 2006.
In 2008, WorleyParsons awarded Sofregaz a contract for
consultancy services related to the Australian company’s provision
of the front-end engineering design for an LNG regasification
project in Singapore. The ultimate client is PowerGas Ltd, a
subsidiary of Singapore Power Co.
52 53

9
POWER
The general economic slowdown in 2008 clearly impacted the
overall volume of investments in the energy sector, although in a
more contained manner than in other markets. In fact, the
continued economic development of the BRIC and Latin American
countries sustained the demand for traditional gas- and coal-fired
power plants. Renewable energy projects were spurred on by the
high price of oil in the early part of the year, but were decelerated or
deferred in the second half. Following the merger with Maire
Engineering, Tecnimont aims to maintain its high profile and high
market share in the traditional energy sector, as well as expanding
its interests in new fields such as supercritical plants and
renewable energy. Maire Tecnimont’s most significant projects are
being implemented in Latin America and Eastern Europe, while an
important “green” power project is under way in Italy.
The Growing Power Market in Latin America
Latin American electricity and infrastructure markets have been a
magnet for international investors for many years. This is due to
improvements in the regulatory climate, the availability of new
technologies and the strong infrastructural development in many
countries. Brazil, the largest South American country, has seen
particularly strong growth. With more than 190 million people, the
country is one of the founder members of the BRIC club, together
with Russia and the Asian giants, China and India. In 2007 the Lula
government launched a programme to increase GDP growth to 5%
annually by improving employment and living conditions.
Investment in infrastructure and energy plays a major role. Brazil
is particularly well placed, thanks to its major conventional
hydrocarbon resources as well as its strategic position in ethanol
and biodiesel. The government has introduced several regulatory
reforms to encourage public and private investment in transport
and energy, which have stimulated a huge inflow of foreign direct
investment in recent years.
54 55

Large EPC Power Projects in Latin America:
the Chile Experience
The Group’s presence in Latin America dates back to the early
1970s and the formation of Maire Engineering do Brasil.
Leveraging on its track record in power plants and large
petrochemical projects, Maire Tecnimont has been progressively
asserting its role as one of the region’s leading providers in power
generation. A Tecnimont-led consortium is building two 370 MW
coal-fired power stations in the Puerto Coronel area of Chile,
approximately 500 km south of the capital Santiago. The
contracts, with Colbun SA (Matte group) and Endesa Chile, have a
total value of more than US$1,080 million. Tecnimont’s share is
about 75%. In both projects Tecnimont is in charge of the design,
supply, assembly and commissioning of the whole plant,
including the steam turbines supplied by General Electric and the
boilers supplied by the Slovak partner SES. The two projects
should be completed by the end of 2010 or early 2011. They are
extremely important for Chile and will make a major contribution
to alleviating the electricity shortages that plunge the country into
a serious crisis every year.
Serving the Brazilian Electricity Market:
New Thermoelectric Mega-Projects
2008 was a very successful year for Tecnimont in Brazil. In January,
the Company was awarded mega-contracts worth approximately
¤1.1 billion for the construction of two power stations with a
combined capacity of 1,080 MW in the northeast of the country. They
will be built on a lump-sum turnkey basis. At the time of the award,
Tecnimont owned 65% of the special-purpose company, Mabe
Construção e Administração de Projetos Ltda (MABE), set up with
other Brazilian partners to handle the contracts. Its share in MABE
has subsequently increased to 73.5%.
The first project is for a 360 MW coal-fired power station to be built
near the port of Itaqui, in the state of Maranhao. The client is UTE
Porto do Itaqui Geração de Energia SA, a company owned by MPX
(EBX group), a major Brazilian private player operating mainly in the
mining sector. The value of the multicurrency contract was about
¤380 million at the time of award. The power station will be in
operation in 44 months.
The second project is for a coal-fired power station with a capacity
of 720 MW in two lines, to be built near the port of Pecem, in Cearà
state. The client is Porto do Pecem Geração de Energia SA, equally
owned by MPX and by the Portuguese national utility EDP through
its subsidiary, Energias do Brasil. The value of the multicurrency
contract at the time of award was about ¤700 million. The power
station will be in operation in 47 months.
Both plants will be designed to comply with stringent environmental standards, higher than required by
current Brazilian regulations.
Several months later, in October 2008, Tecnimont signed a further contract with MPX Pecem II Geração
de Energia SA, a company wholly owned by MPX, for the provision of EPC services for a third coal-fired
365 MW line at Pecém. Work on Pecém II will be integrated with the earlier Pecém and Itaqui projects and
will therefore benefit from significant time, cost and risk management optimization. The project value at
the time of award was about ¤350 million.
The Tecnimont-led consortium MABE, as EPC contractor on the two projects, has also signed contracts
to supply flue gas desulphurization (FGD) and dedusting systems to the Pecem and Itaqui power stations.
One FGD system will be installed at Itaqui and two more at Pecem. Komline-Sanderson of the US will
provide semi-dry technology for FGD. Enfil SA, Brazil, will provide the baghouse filters for the dedusting
system. The total value of the contracts is ¤80 million, of which Tecnimont’s share is around ¤59 million.
Recent Power Projects in Brazil
56 57
Name
Contract
type
Current
Value/
Current
MT share
Client
Itaqui
EPC EPC
EPC
¤412 million /
¤302 million
UTE Porto do Itaqui
Geração de Energia SA
(owned by
MPX-EBX Group)
Pecem I
¤764 million /
¤562 million
Porto do Pecem Geração
de Energia SA
(owned 50% by
MPX and EDP)
Pecem II
3rd Line
¤386 million /
¤281 million
MPX Pecem II Geração
de Energia SA
(owned by
MPX-EBX Group)
Partners The MABE consortium (Tecnimont as leader with EFACEC, Portugal)
720 MW
Capacity 360 MW 365 MW
(in two 360 MW lines)
(*) FGD contract price included in current values of Itaqui and Pecem projects.
Emission Abatement
Systems
EPC
¤80 million (*) /
¤59 million (*)
UTE Porto do Itaqui Geração
de Energia SA in Itaqui and
Porto do Pecem Geração de
Energia SA in Pecem
NA

Energy for Albania
Albania is a country in transition from a centrally planned to a market-based economy. This poses
major challenges as well as providing new opportunities. Two key factors favouring social and
economic development are the availability of electricity and the diversification of energy supply.
Albania has seen rapid growth in demand for electricity, which has brought an increasing dependence
on imports. Sustainability of electricity supply is becoming an increasingly sensitive issue for the
country, and a programme to reform and improve the performance of the energy sector and open the
market is being implemented. The Valona power plant, supported by the World Bank, European Bank
for Reconstruction and Development (EBRD) and European Investment Bank (EIB), is a cornerstone of
the new policy.
Valona Power Plant
In 2007 Tecnimont beat other major international
bidders to win the contract for the construction of a
gas turbine combined-cycle (GTCC) power plant at
Valona, southern Albania. The agreement is in two
parts: a ¤92 million contract for engineering,
procurement and construction, and a ¤23 million
contract for long-term gas turbine maintenance
service. Around 90% of the EPC project is being funded
by the World Bank, the EBRD and the EIB. KESH is
responsible for the remaining 10%. The project, due to
be completed in September 2009, consists of a 100 MW
GTCC at ISO conditions, with emission limits in line
with the most stringent regulations thanks to the use
of the most advanced technologies.
The Valona plant is designed to be self-sufficient. It will
be equipped with its own sea terminal and pumping
station to receive deliveries of diesel oil and sufficient
tank storage for diesel oil to ensure operation of the
plant for over 30 days. It will also have its own sea water
cooling system and reverse osmosis desalination plant,
coupled with a continuous plant producing dimineralized
water to feed the heat recovery steam generator.
The plant will be able to satisfy the electricity demand of
a town of about 250,000 inhabitants. It is Albania’s first
big project in the power sector for 20 years and
represents the first major attempt to alleviate the
country’s shortage of energy. It will also help diversify
the country’s source of electricity, which now comes
only from hydropower. The project contributes
significantly to the local labour market. It will represent
a total of approximately 1.5 million working hours, of
which more than 900,000 hours will be attributable to
Albanian companies.
Contract type: EPC
Client:
Albanian Electric Energy
Government Authority (KESH)
Contractor: Tecnimont
Contract value: ¤115 million
Capacity: 100 MW GTCC
Local biomass
provider
58 59
5,000 ha
70 km
180,000 tonnes
biomass poplar
Production
18 MW
BIOMASS SHORT CHAIN
Towards one of the Largest Biomass Power Stations:
Contributing to the Green Energy Sector in Italy
As part of the Maire Tecnimont’s increasing focus on renewable
energy, the Group is promoting a biomass power station at
Olevano Lomellina (Pavia, Italy). Construction will start in June
2009 and the project should be completed by mid-2011. The
power plant, with an installed capacity of about 18 MW, will be
built by Tecnimont as general contractor. The investment is about
¤75 million. Maire Tecnimont will form a special-purpose company
to manage the plant in association with local biomass providers,
who have guaranteed its entire lifetime raw materials supply.
The project is the first example of this magnitude of real integration
between the agriculture and power sectors in Italy, in line with the
local supply chain (“filiera corta”) requirements of the Ministry of
Agricultural, Food and Forest Politics. This approach offers
farmers the long-term prospect of a new and dependable source of
income from traditional farming. Significant benefits are also
foreseen in terms of employment and the development of local
services. Local residents will benefit from new urbanization works,
discounts on electric tariffs, and so on.
The power station will produce about 140,000 MWh per year,
sufficient for a town of about 40,000 inhabitants. It will have
virtually zero environmental impact and no CO 2 emissions. A
traditional coal-fired power plant of this size would emit more
than 100,000 tonnes/year of CO 2.

10
INFRASTRUCTURE &
CIVIL ENGINEERING
Infrastructural investment in Italy, where the Group’s activities are
concentrated, remained at the same low level as in past years in 2008,
held back by public financing constraints as well the legislative and
administrative complexity that characterizes large-scale public works.
Demand for engineering and construction services in the transport
sector (for high-speed trains, above-ground and underground
railways) showed little change, although several initiatives by Italferr,
the engineering subsidiary of Italian Railways, and Anas, the national
highways authority, have been announced, and will be developed
during 2009.
Substantial growth in infrastructural investment is expected from
2009 onwards, due to the programmes under way in many countries,
including Italy, to stimulate the world economy.
Maire Tecnimont is focusing its new marketing efforts on those areas
of the world in which it is well-placed to win new business, notably
Eastern Europe, North Africa and South America. The Group already
has an established reputation in these areas because of the work
successfully carried out by its other business units. It also has
subsidiaries or representative offices in many of the countries.
60 61

SERVING URBAN DEVELOPMENT
IN LARGE ITALIAN CITIES
Turin: Past, Present, and Future
Turin, with an area of 130 sq. km and a population of 902,000, is one of the most promising
and innovative Italian cities. Maire Tecnimont has deep roots in the city, which is now the
location of one of its main engineering centres, specializing in the design and construction
of infrastructure, power plants and civil and industrial buildings. The centre dates back to
1937 and the foundation of Fiat’s Construction and Plant Division. It was then incorporated
as Fiat Engineering SpA in 1972, and in 2004 was acquired by the Maire Group, becoming
Maire Engineering. Finally, in October 2008 it was merged into Tecnimont.
Thanks to its long-standing presence in the city, Maire Tecnimont has played an important
part in Turin’s development in recent years.
In 1995 the city began a complex economic recovery and urban development programme
that included infrastructural improvements, new transport systems, brownfield recovery,
restoration of the historical centre, and upgrade of the suburbs. Maire Tecnimont has been
actively engaged in this programme and, in particular, in work carried out for the 2006
Winter Olympics. Examples of the latter include the Palavela stadium used for skating
races, built in the record time of less than 14 months, and the Olympic Village, which
comprised three residential units housing 2,500 athletes and their families with gymnasia
and service facilities. In complex civil buildings, Maire Tecnimont has been involved in the
design of Turin University’s Faculty of Law and Political Sciences. The new layout,
developed by Maire Engineering in collaboration with the architect Norman Foster, is
characterized by flexibility and is capable of responding to the university’s future growth
and transformation.
Maire Tecnimont’s main contribution to Turin development currently is in the
implementation of a state-of-the-art mass transport system.
Turin Metro – Line1 (First Part)
Tecnimont built Italy’s first completely automated (driverless, VAL
technology) underground mass transportation system in Turin. The
project was awarded to the Tecnimont-led Transfima consortium in
2000 and completed in 2007. The VAL (automated light vehicle)
technology provides many benefits to passenger comfort and safety:
optimization of train transit frequency, lowering of vehicle
vibrations, and innovative platform door systems. Finally, the lowerdiameter
tunnels meant that the delivery time of the project was
shortened and construction-related problems and inconvenience
for the city were reduced.
Turin Metro – Line1 (Extensions)
TURIN METRO CONSTRUCTION SYSTEM
In December 2006, Tecnimont signed a contract for 3.1 km extension
of the Turin Metro Line 1. The new route from Marconi to Lingotto
includes six stations (Marconi, Nizza, Dante, Carducci/Molinette,
Spezia and Lingotto), five intermediate pits, a 2.9 km double-track
tunnel with 7.5 metres diameter EPB TBM, and further auxiliary
facilities. The work poses considerable technical difficulties because
of the need to minimize the impact of the construction sites. The line
extension crosses the centre of Turin, where the traffic level is high
and urban activities are concentrated. As consortium leader,
Tecnimont is in charge of procurement, design and construction,
including environmental studies and compliance with health and safety
regulations. By the end of 2008, 62% of the work had been completed.
The whole contract, worth about ¤100 million, will be finished by 2010.
A further extension of the Metro Line 1 from Lingotto to Bengasi,
based on the same VAL technology, should be approved by the city
authorities soon. Under an outline agreement Transfima would handle
system engineering, technology procurement, and construction
supervision. The consortium has also developed a preliminary design
for a western extension of Line 1, from Collegno to Cascine Vica.
62 63
Diaphgrams
excavation
Station room
excavation
Client:
GTT SpA
Contractor: Tecnimont and
Siemens Transportation Systems
(the Transfima Consortium)
Contract value: ¤100 million (Tecnimont share 51%)
Length: 14 km (Fermi-Porta Nuova station)
Finishing of
the works
of the
1st station
Tunnel
excavation
by TBM
Diaphgrams
excavation
of the
2nd station
Subway Operation
Completion
works
of the
1st station
Tunnel
lining
between
1st and 2nd
station
Tunnel
excavation
by TBM
Diaphgrams
excavation
of the
3rd station

Rome: Past, Present, and Future
Maire Tecnimont has been present in Rome since 1983, when the original Maire
companies were founded. The Group now has its legal and administrative headquarters
in Italy’s capital city, sharing office space with the engineering task force working on
mass transport systems, and with the wholly owned subsidiary MST, a leading player in
public-sector facility management. Maire has completed a number of important
projects in the Rome area in recent years, including civil and industrial buildings,
cultural heritage restoration projects, and urban development programmes. The most
prominent was the construction of the new Ara Pacis Museum designed by the architect
Richard Meyer in the centre of Rome, which is built around the imperial Roman altar
dedicated to peace. Maire Tecnimont’s activities in the city are currently focused on
mass transportation systems.
Metro Rome – B1 Line
The B1 Line project, started in 2005, involves the detailed
design and construction of a Metro line that is completely
underground. Three stations are being constructed:
Annibaliano, Gondar, and Conca d’Oro, one of which is 36
metres below the surface. The tunnel boring machine
(TBM) earth pressure balance (EPB) excavation
technology used in the project permits a significant
reduction of overlying soils of low mechanical
performance and high water content in areas of
significant historical and architectural interest. The work
will be completed by 2011.
In 2008 Tecnimont started to extend the B1 line by 1,100
metres from Conca d’Oro to the next station, Piazzale
Ionio. The project involves the construction of three car
parks near the stations. The value of the project is about
¤160 million, of which Tecnimont’s share is 16%.
Client:
Contractor:
Contract value:
Lenght:
Comune di Roma and
Roma Metropolitane
Tecnimont and others
¤360 million (Tecnimont share 15%)
3.6 km
Excellence in High-Speed Railways
Maire Tecnimont has been involved with high-speed railways for
many years and has developed considerable experience and
expertise. The Group is part of the CAVET and CAVTOMI consortia
taking part to the construction of two of the most important
Italian high-speed lines from Turin to Milan and from Florence to
Bologna. TAV, the subsidiary of Italian State Railways responsible
for high-speed development, has entrusted the two consortia with
the preliminary, final and detailed design, environmental impact
assessment, environmental monitoring services, and related
construction works for the two lines.
The Turin-Milan line will have a length of 125 km, and includes
four interconnections with existing lines, 150 km of ordinary
roads and motorways and 16 motorway junctions. The first part of
the line, from Turin to Novara, is already in operation.
Tecnimont’s share of the entire project was worth about ¤380
million at the contract date.
The 78 km Bologna-Florence railway line has one interconnection
with existing lines, 73.4 km of tunnels and 110 km of ordinary
roads. The project is technologically complex, with over 90% of
the line being laid in tunnels under the Apennine Mountains. The
consortium has had to overcome many technical problems,
including the excavation of tunnels in poor and variable terrain.
The mountainous nature of the Apennine region has also made it
necessary to carry out large-scale landscaping and other
infrastructural work. The line will enter into operation by the end
of 2009. Tecnimont’s share of the project was about ¤490 million
at the contract date.
Tecnimont has also developed the preliminary and final design and
environmental impact assessment for the civil works and railway
superstructure for the long-awaited Milan-Genoa high-speed
railway. The Company is part of the COCIV consortium that will
handle design and construction. The project will consist of 54 km of
double-track line, of which 37 km will be in tunnels. The Italian
government decided recently to push ahead with this long-delayed
project because of its strategic importance for the national economy.
64 65

Connecting Southern Italy
Historically southern Italy suffers from the lack of an efficient,
modern transport infrastructure. Major public investment
programmes are under way to remedy this weakness. Maire
Tecnimont is working on three main transport projects that will
significantly reduce current bottlenecks on railways and highways.
Fiumetorto-Cefalù Railway and the Imera Archaeological Site
As general contractor, Tecnimont has completed the detailed design
and is carrying out land acquisition, works supervision and
construction of the doubling of the railway line from Fiumetorto to
Cefalù Ogliastrillo, near Palermo in Sicily. 12 km of new track will be
constructed alongside the existing one-track line, 4 km will be in
tunnels and another 4 km will be new track. Construction started
officially in May 2008 and is due to end in 2011. Preliminary work on
the tunnel excavation and new track is already complete.
Tecnimont is in charge of environmental supervision and
management of the project. The works area has a high hydrological
risk and is also adjacent to the archaeological site at Imera. This is
one of the largest archaeological sites in Europe, covering an area of
about 15,000 sq. metres, where in 2008 archaeologists discovered the
ancient necropolis of Himera. The 70 or so people working on the site
have so far uncovered more than 1,500 tombs from the Greek period
(648-409 BC). They expect ultimately to find more than 12,000 tombs.
Among the finds are such day-by-day objects as coins, pots, baby’s
bottles, etc. All parties involved have cooperated to ensure that this
valuable heritage site is being excavated without halting a strategic
public investment essential for the development of Sicily.
Client:
Contractor:
Contract value:
Lenght:
Rete Ferroviaria Italiana
(Italian State Railways)
Tecnimont
¤314 million
20 km
Client:
Italferr SpA (Italian State Railways)
Contractor: Tecnimont (consortium leader)
Contract value: ¤128 million
Lenght: 14 km
Lamezia Terme-Catanzaro Railway
As consortium leader, Tecnimont carried out detailed design and
construction of the new railway line linking Settingiano and
Catanzaro Lido in Calabria. The contract included the design and
construction of the railway superstructure along the line and inside
the stations, and all technological equipment required for its
operation. The latest techniques were used for the tunnel, in
particular tunnel boring machine (TBM) earth pressure balance
(EPB) technology. This enabled the tunnel to be dug at an average of
16 metres/day, with a peak rate of 37 metres/day. The project was
part of a wider urban recovery programme for the socio-economic
development of the area. Particular attention was given to an
integrated quality/environment/safety management system. The
line was put into operation in June 2008.
Salerno-Reggio Calabria Highway
Tecnimont is part of a consortium selected in October 2008 as
the preliminary winner of a tender to act as general contractor
for the modernization and upgrading of about 20 km of the
Salerno-Reggio Calabria A3 Highway, in Cosenza province. The
client is the national highways authority Anas. The contract
foresees detailed design, construction management and
realization of the works, as well as environmental monitoring
and safety coordination, both in the design and in execution
phases. The value of the project is around ¤400 million, of which
Maire Tecnimont’s share will be around ¤200 million. The
project includes the construction of eight viaducts and nine
tunnels, together with the enlargement of the Viadotto Italia
across the Lao river valley, which at 259 metres is the highest
Italian highway bridge.
66 67

Complex Civil Buildings and Architectural Excellence
Three projects have been chosen in this section to illustrate
Maire Tecnimont’s capabilities in complex civil and industrial
buildings (hospitals, office buildings, service centres and so on).
A common feature of our work is the combination of innovative
technological solutions with attention to architectural design and
landscaping, particularly in the maintenance or refurbishment of
historic buildings.
Amato Real Estate
Tecnimont has undertaken the redevelopment of the site of a former
pasta factory owned by the Amato family in Salerno (southern Italy).
The redevelopment is one of several private and public initiatives in
the town carried out by prominent international architects. The Amato
project, designed by the French architect Jean Nouvel, foresees the
development of a new residential and commercial complex alongside
a new 5,000 sq. metre park. The site is at a critical junction between
the city centre and the suburbs, and is crossed by public and private
traffic. Site specificity, orientation and landscape, energy-saving
concepts and innovative materials are the main elements of the
redevelopment, which includes infrastructural facilities and
underground parking financed entirely by private funds. The project
foresees the construction of new structures that respect and
emphasize in a contemporary manner the historical-industrial
context of the old mill. The project will play a strategic role in the
development of the surrounding area.
Client:
Contractor:
Contract value:
Area:
Amato Real Estate
Tecnimont
¤40 million
18,000 sq. metres
Technogym Village
Technogym Village, with small lakes, fitness facilities and a sports
centre, is under construction in Cesena (central Italy) in a park of over
61,000 sq. metres. The pioneering “wellness factory”, designed by the
architects Antonio Citterio & Partners, includes an area of 40,000 sq.
metres for assembly and logistic services, as well as 11,000 sq. metres
for administrative and commercial activities, a research centre,
gymnasium and a wellness area. The project features innovative use of
materials; the buildings’ external coverings are made of wood, glass
and aluminium. The project should be completed by 2010.
Avellino Hospital
This project includes the construction of a hospital that will
become the sole hospital of Avellino and offer advanced medical
assistance to the entire province. The distinctive element of the
hospital layout is the central square, from which horizontal routes
fan out to connect the various parts of the estate. The hospital will
house 880 beds and have 10 operating theatres. The Healthcare
Centre of Avellino will be of fundamental importance for the
network of medical services in southern Italy. It will replace four
existing hospitals and become a regional medical centre of
excellence, equipped with the most advanced specialist
departments. The project will be completed by December 2010.
68 69
Client:
Contractor:
Contract value:
Area:
Client:
Contractor:
Contract value:
Area:
Technogym
Tecnimont
¤50 million
50,000 sq. metres
Comune di Avellino, Regione
Campania and Avellino Health
Department
Tecnimont (leader) and others
¤200 million
100,000 sq. metres

11
CORPORATE
GOVERNANCE
Company Profile
The governance of Maire Tecnimont SpA is based on the traditional
organizational model, with a General Shareholders’ Meeting, a Board
of Directors and a Statutory Board of Auditors.
The Board of Directors has established two internal committees with
advisory functions, the Remuneration Committee and the Internal
Control Committee, in accordance with Italian Stock Market
Regulations and the Corporate Governance Code of Italian Listed
Companies, to which the Company adheres.
Pursuant to Article 155 and subsequent articles of the Italian
Consolidated Finance Act (TUF), the Shareholders’ Meeting on 10 July
2007 decided – based upon a proposal from the Statutory Board of
Auditors – to give a mandate to Deloitte & Touche SpA to audit the
corporate accounts for the fiscal years 2007-2015, according to the
terms and conditions specified by the auditing firm, which have been
filed in the Company’s records.
Since 26 November 2007, Maire Tecnimont SpA shares have been
traded on the Italian electronic stock market (Mercato Telematico
Azionario – MTA), which is organized and managed by Borsa Italiana
SpA. The corporate governance system is essentially oriented
towards the creation of shareholder value in the medium and long
term, conscious of the social relevance of the Company and Group
activities and the underlying need to consider the interests of all
stakeholders adequately.
The Company directs and coordinates Tecnimont SpA according to
Article 2497 of the Italian Civil Code.
70 71

Board of Directors
Maire Tecnimont SpA is administered by a Board of Directors
currently made up of nine members who need not necessarily be
shareholders. Board members are appointed for a term of between
one and three financial years, and remain in office until the approval
of the financial statements pertaining to the last year of their
appointment, in accordance with the provisions established by the
shareholders’ meeting at the time of their appointment. They are
then eligible for re-appointment.
Board of Directors 31 December 2008
Members
Fabrizio Di Amato
Massimo Sebastiani
Gianni Bardazzi
Saverio Signori
Giovanni Malagò
Stefano Fiorini
Roberto Poli
Adolfo Guzzini
Giuseppe Colaiacovo
Position Executive
Chairman and Chief
Executive Officer
Director X
Director X
X
Non
Executive
Director X
Director X
Director X
Director X
Independent
Director X
Director X
FABRIZIO DI AMATO
Chairman of the Board of Directors and Chief Executive Officer
Born 1963. A graduate in Political Science from La Sapienza University of Rome, he began
his career as an entrepreneur by setting up his own company and built up the Maire
Tecnimont Group through internal growth and acquisitions. He is President of Federprogetti
(the federation of Italian plant industries), President of ANIMP (the association of Italian
plant industries), member of the Board of Confindustria, member of the Board of OICE
(association of Italian engineering, architectural and technico-economic consultancy
organizations), member of the Executive Committee of the Rome industrialist and
enterprises association (UIR), member of Consulting Committee of the Polytechnic
University of Turin (Faculty of Architecture), member of the Consulting Committee for
Developing Countries of Confindustria (the confederation of Italian industries) and member
of the Steering Committee for the VertiPass project, carried out by AgustaWestland and The
European House-Ambrosetti.
MASSIMO SEBASTIANI
Senior Vice President, Administration, Finance and Control
Born 1957. From 1979 to 2004 he held a variety of positions at different banks including
Banca di Roma, Carimonte, Rolo Banca and UniCredit. From June 2005 to April 2006 he
was Director of the administration and finance department at Maire Engineering. He has
been in his current role since April 2006.
GIANNI BARDAZZI
Senior Vice President, Strategic Marketing and Special Initiatives
Born 1965. He graduated in Architecture in 1990 from the University of Florence and
obtained a PhD in 1998 from the Universities of Florence and Chalmers, Sweden. He was
appointed professor of architectural technology in 1998. He has consulted on numerous
site management projects for ICIET-SIME and ITT Sheraton. In 1997 he joined the Maire
Group and subsequently served in various important positions. In 2007 he became a
member of the Board of Directors of Maire Tecnimont. He is a board member of important
engineering and construction associations and International Chambers of Commerce. He
manages the Group’s merger and acquisition activities, with responsibilities from
screening potential opportunities to executing and closing deals, valuation of investment
projects, and project financing. He has held his current position since September 2007.
72 73

SAVERIO SIGNORI
Born 1961. A graduate in Economics and Commerce, he is involved in management, financial and tax
consultancy. He was a member of the working group set up by the Ministry of Productive Activities for
the reform of regulations on the extraordinary administration of major companies in crisis. He
currently holds the position of liquidator in extraordinary administration procedures for several
companies. He is a sessional lecturer in Company Economics at the Faculty of Economics and
Commerce at the Luiss University of Rome. In 1986 he founded the Studio Signori Company of
chartered accountants with offices in Rome and Milan.
GIOVANNI MALAGÒ
Born 1959. He graduated in Economics and Commerce. He is CEO of Sa.Mo.Car. SpA and Chairman and
CEO of Samofin SpA. He is currently a member of the Board of Directors of several important companies:
UniCredit Banca di Roma, FAI ( Environmental Italian Fund, the organization dedicated to preserve Italy’s
artistic and environmental heritage), Musica Park Auditorium of Rome. Since 2007 he has been advisor
to HSBC for Italy. In the sport sector he has hold relevant assignments as Chairman of the Organizing
Committee of the 13th FINA World Championships Rome 2009, member of the Organizing Committee of
the World Volleyball Championship 2010 and member of the Italian Olympic Academy.
STEFANO FIORINI
Born 1962. He completed a three-year degree in Juridical Science in Camerino. He has been an
employment consultant since 1988, specialising in company restructuring and mergers and
acquisitions, with significant experience in fiscal disputes and receivership. He has held the post of
statutory auditor for several companies.
ROBERTO POLI
Born 1938. A graduate in Economics and Commerce, he was professor of corporate finance at the
Cattolica University of Milan from 1966 to 1998. He is the founder and Chairman of Poli e Associati, one
of the prominent consultancy companies in the field of merging and acquisitions and corporate finance.
He was Chairman of Rizzoli-Corriere della Sera and Publitalia. He currently holds the position of Board
Member at Mondadori, Fininvest, Coesia and Perennius. He is Chairman of Eni since May 2002.
ADOLFO GUZZINI
Born 1941. He co-founded iGuzzini illuminazione, where he is currently President. He is also Chief
Executive Officer at Fimag, a holding company which controls F.lli Guzzini, Teuco and iGuzzini
illuminazione, in which he is also a Partner and Vice-President. From 2009 he has been the President
of the Italian Design Council. He has received the title of Knight of Labour and was awarded an
Honorary Degree in International Economics.
GIUSEPPE COLAIACOVO
Born 1966. He graduated in Economics and Finance and was awarded an Executive MBA at UCLA.
He has been a professor in the Economics of Education at the University of Perugia since 2001.
Since 1994 he has been a member of the Board of Directors of companies such as SNAM Rete Gas,
MCC and Fineco Bank (Unicredit Group), Financo, Colacem, Colabeton and Santamonica Misano
Circuit. He has also served as Chairman of Sirci Gresintex SpA and Chief Executive Officer of
Goldlake Investment.
Functions of the Board of Directors
The Board of Directors plays a central role in the corporate organization, and
drives the pursuit of the strategic goals of the Company and the Group. It also
checks that proper controls are in place to monitor their progress. Apart from
the powers granted to it under the law and the Articles of Association, the
Board of Directors also exercises sole competence in the following matters:
approval of Maire Tecnimont’s and the Group’s strategic, industrial and
financial plans and budgets;
approval of the Company’s first quarter and first half reports, including
the consolidated accounts;
assessment of the appropriateness of the general organizational,
administrative and accounting structure of the Company and its
strategically significant subsidiaries as drawn up by the Chief Executive
Officer, with specific reference to the internal control system and the
management of conflicts of interest;
periodic assessment of the Company’s and Group’s operating, financial
and stock market performance;
approval of transactions entailing the acquisition and disposal of
controlling interests in other companies and in important parts of the
Group’s and other companies’ businesses;
definition of the Company’s and the Group’s corporate governance system
and rules;
formation and regulation of committees within the Board of Directors, the
appointment of committee members and determination of their emoluments;
conferment on and revocation of delegated powers from the Chief
Executive Officer, the Chairman and other Board members, and the
determination of related emoluments;
approval of transactions proposed by the Company and its subsidiaries
that are likely to have a significant impact on the Company’s strategy,
operations, and financial or equity situation;
decisions pertaining to the exercise of voting rights in strategically
significant direct subsidiaries, at the recommendation of the Chief
Executive Officer.
74 75

The Chairman and Chief Executive Officer
The Chairman of the Board of Directors also serves as the Chief
Executive Officer. He is therefore the main person responsible for
managing the Company. The appointment of the same person to
act as Board Chairman and CEO is, in the Board’s opinion, justified
by the organizational structure of the Company and the Group to
which it belongs, and by the particular nature of the Company’s
business, which consists primarily of the management of operating
subsidiaries and the management and coordination of Group
companies. The Chairman, Fabrizio Di Amato, also controls the
majority of the shares in the Company through Maire Gestioni SpA.
On 10 September 2007, the Board of Directors invested the CEO
with full powers of Company management, to be exercised under
his sole signature, both in Italy and overseas, except for and
excluding those powers and responsibilities which have been
specifically reserved for the whole Board of Directors. At the same
time it required the CEO to report to the Board of Directors on the
activities undertaken in performance of his delegated powers on at
least a quarterly basis.
Remuneration Committee
The Remuneration Committee is made up solely of non-executive Directors, most of whom are also
independent: Adolfo Guzzini, Giuseppe Colaiacovo and Stefano Fiorini, the last serving as Committee
Chairman. The Remuneration Committee is tasked with (i) making recommendations to the Board of
Directors on the remuneration, including stock options, of the Chief Executive Officer and other
Directors entrusted with specific tasks, and (ii) periodically assessing the criteria adopted for the
compensation of executives with strategic responsibilities, monitoring the application of these criteria
and forwarding general recommendations in such regard to the Board of Directors.
Internal Control Committee
The Internal Control Committee is made up solely of non-executive Directors, most of whom are
also independent: Adolfo Guzzini, Giuseppe Colaiacovo and Stefano Fiorini, the last serving as
Committee Chairman. The Internal Control Committee is tasked with providing the Board with
advice and recommendations in respect of (i) defining the guidelines of the internal audit system
and checking its appropriateness and functioning; (ii) evaluating the work schedule prepared by
Internal Auditing and examining the periodic reports submitted by this function; (iii) assessing,
together with the Company’s administrative managers and auditors, the appropriateness of the
accounting principles used and their uniform application for the purposes of drawing up the
consolidated financial statements; (iv) assessing proposals submitted by auditing firms competing
for appointment as independent auditors, as well as assessing the auditing work schedule and
results indicated in the report and suggestion letter.
Organizational Model Pursuant to Legislative
Decree 231/2001
On 28 June 2007, the Company approved and adopted the
Organizational and Management Model drawn up pursuant to and
for the intents and purposes of Legislative Decree No. 231/2001, of
which the Code of Ethics is to be deemed to form an integral and
significant part.
The Model is made up of a first general part, aimed at illustrating
the function and principles of the Model itself, as well as the
contents of Legislative Decree No. 231/2001 and the main
reference regulations, and a second specific part, setting forth
the procedure of the adoption of the Model by the Company, and
identifying activities at risk, operating procedures pertaining to
the risk profiles identified in each operating unit, the structure
and functioning of the Supervisory Body together with the
information flows towards the said Supervisory Body, training and
information activities, the disciplinary system and the procedures
for updating the Model.
The Supervisory Body in charge of overseeing the functioning of
and compliance with the said Model and updating the same is
made up of Umberto Tracanella (Chairman), Roberto Santucci and
Giovanni Scagnelli.
76 77

Executive in Charge of Preparing the Company’s
Financial Accounts
Pursuant to article 154-bis of the Italian Consolidated Finance Act
(TUF) and in compliance with the appointment procedures
contemplated in Article 23 of the Articles of Association, on 10 July
2007, the Board of Directors appointed the Administration, Finance
and Control Director Massimo Sebastiani as manager in charge of
the Company’s financial reports.
CORPORATE
DEVELOPMENT
A. BRUNETTI
INVESTOR
RELATIONS
L.Y. KAY
ADMINISTRATION,
FINANCE
AND CONTROL
M. SEBASTIANI
HUMAN
RESOURCES,
ORGANIZATION
AND ICT
F. GHIRINGHELLI
CHAIRMAN
AND CEO
F. DI AMATO
MANAGING
DIRECTOR
TECNIMONT
E. CAETANI
PROCUREMENT
M.RUZZA
GENERAL
COUNSEL
A. BERTOLINI
INTERNAL
AUDIT
U. MINO
STRATEGIC
MARKETING
AND SPECIAL
INITIATIVES
G. BARDAZZI
Profiles of the Top Managers
FABRIZIO DI AMATO, Chairman & CEO
GIANNI BARDAZZI, Senior Vice President, Strategic Marketing and Special Initiatives
MASSIMO SEBASTIANI, Senior Vice President, Administration, Finance and Control
For their profiles see page 73.
ALESSANDRO BERTOLINI
General Counsel
Born in 1962, he graduated cum laude from Bologna University Law School in 1987. In 1993
he earned a Master of Laws at the Paul M. Hebert Law School of Louisiana State University,
Baton Rouge (USA). A member of the Louisiana State Bar Association, he was a practicing
attorney in the USA, working as an associate in the Harris Law Firm in New Orleans. In 1995
he moved back to Italy and, since then, has served as General Counsel for Fata Group SpA
and for Piaggio & C. SpA. He has been in his present position since December 2008.
ANDREA BRUNETTI
Senior Vice President, Corporate Development
Born in 1959, he graduated in Mechanical Engineering in 1985 and joined Snamprogetti SpA to
manage projects in Italy, Iran and China. In 1995, he joined Tecnimont SpA to set up Tecnimont
ICB in India, where he was Joint Managing Director until 2002. Returning to Italy, he was
Executive Vice President of Operations & Engineering at Tecnimont until early 2007 and then
Managing Director of Maire Engineering in Turin until September 2008, when he was entrusted
with his present responsibilities.
ENZO CAETANI
Tecnimont Managing Director
Born 1952. He graduated in Chemical Engineering in 1975 and obtained a Master’s degree in
Advanced Technology the following year. He joined Snamprogetti in 1977 as a process
engineer and held different positions before being appointed CEO of E&M Services in 2001
and Operations Director of Snamprogetti in 2002. He joined the Maire Tecnimont Group in
July 2006, taking up his current position.
FRANCO GHIRINGHELLI
Senior Vice President, Human Resources, Organization and ICT
Born 1966. He graduated in Business Administration in 1991, and joined Human Resources
management at the Saipem group, where he reached the position of Development and
Organization Manager. In 2002 he moved to Paris to take charge of the acquisition of
Bouygues Offshore. At the end of 2003 he left Saipem to become Senior Vice President of
Human Resources, Organization and ICT at Impregilo. He joined the Maire Tecnimont Group
in November 2005, taking up his current position.
LAWRENCE Y. KAY
Head of Investor Relations
Born in 1956, he graduated from Brown University, USA, in 1978, majoring in Economics and
Russian Studies. In 1991 he earned a Masters in Bologna and Washington, DC, at the School
of Advanced International Relations of Johns Hopkins University. He started his career at
the Federal Reserve Bank of New York, later working for Standard & Poor’s and Merrill
Lynch. In 1991 he moved to Italy and, since then, has served as Head of Investor Relations
for IMI SpA, Sanpaolo IMI SpA, Telecom Italia SpA and Capitalia SpA. He has been in his
present position since September 2007.
UMBERTO MINO
Internal Audit Head of Department
Born in 1946, he graduated in Chemical Engineering in 1969 and in Business Administration
in 1975. From 1981 to 1996 he held different positions in the Administration, Finance and
Control area of Ausimont SpA and Montedison SpA. He joined the Maire Tecnimont Group in
1997. He has been in his present position since 2003.
MARIO RUZZA
Senior Vice President, Procurement
Born 1954. He graduated in Civil Engineering in 1981. He started his career at Impresit as a
structural engineer and subsequently took charge, as Chief Resident Engineer and Project
Manager, of various large worldwide projects. In 1994 he joined Fiat Engineering. From March
2000 to September 2004 he was Procurement Director of Maire Engineering and subsequently
Technical Director. In 2005 he was appointed Senior Vice President of Internal Auditing at
Maire Tecnimont Group. He has been in his present position since 12 January 2007.
78 79

12
CORPORATE SOCIAL
RESPONSIBILITY
Corporate Social Responsibility (CSR) is an integral part of Maire
Tecnimont’s vision of global sustainability, as a multi-level approach
to promote the proper economic and financial management of the
Company, as well as positive relations with society and the
environment. Sustainability encompasses all the economic,
environmental and social dimensions of the Company’s life, by
means of ethical commitment, high quality standards, and
transparent relations with all its stakeholders. These elements are
of paramount importance in gaining and safeguarding a recognized
competitive advantage in terms of international reputation. The
people of our Group have long experience of working in a wide range
of countries and cultures. They are well aware of the fundamental
importance of proper transparent relationships with clients and
local communities based on respect for their different cultures and
flexibility in meeting local socio-economic and environmental
needs. Maire Tecnimont views acting responsibly as thinking of the
community in its widest, most universal sense, through human
development projects ranging from educational and social
promotion to cultural heritage programmes. The following were the
main CSR initiatives of the Group in 2008.
Acqua Acetosa Fountain Restoration, Rome
Maire Tecnimont is among the sponsors of the project for the
creation of the Acqua Acetosa Fountain Park in Rome, promoted
by the Municipality of Rome’s Cultural Heritage Office and Circolo
Canottieri Aniene. The project involves the restoration of the
famous ornamental seventeenth century fountain, redevelopment
of the surrounding area for public enjoyment, creation of a park
and the improvement of access facilities. This prestigious project,
lasting 17 weeks, will restore a well known monument of Rome to
its former splendour.
80 81

“In the Open” Project
The Maire Tecnimont Group is celebrating several important
anniversaries in 2008-2009: 25 years since the foundation by
Fabrizio Di Amato of the Maire companies in Rome, 35 years since
the foundation of Tecnimont, and 50 years since the foundation of
the Indian subsidiary TICB and the French subsidiary Sofregaz.
The painter Antonio Pauciulo was given the task of depicting the
places and people of Maire Tecnimont in their daily work so that
these anniversaries will not only be celebrated in memory but will
also be the inspiration for something new. The artist analyses and
depicts the world of complex engineering through a real
experience of visiting places and meeting people. The world of
Maire Tecnimont has been represented through the metaphor of
"the human world", considering three aspects of the Company:
the expertise of those involved (people), the geographical
situation and organization of space (places), and the cultural and
social situation (community). Maire Tecnimont people work in
offices and construction sites, belong to different cultures and
ethnic groups, and live in different parts of the world. The fact
that they collaborate so successfully shows that diversity is an
indispensable value that is not in conflict with cooperation, but
actually consolidates a more complex idea of unity. The complex
world of Maire Tecnimont will be represented through eight
paintings in a polyptych, a series of images held together by a
formal, compositional and iconographic theme.
Maire Tecnimont Rugby Monza
For the 2008-2009 and 2009-2010 seasons, Maire Tecnimont will be the title sponsor of ASD Rugby
Monza 1949. All the teams of the historic Lombard club will adopt the Maire Tecnimont Rugby Monza
name. This social responsibility sponsorship programme is focused on education and social inclusion
of young people in deprived areas by promoting sport and fitness issues as well as ethical values. To
experience the values embodied in the game of rugby – team spirit, a healthy competitive attitude,
respect for one’s opponent and a strict regard for the rules - is a way to promote positive educational
ideals in practice. These values are shared by Maire Tecnimont employees in their day-by-day work
around the world. The Rugby Monza Sporting Club, which has 14 senior and junior teams and more
than 300 player-members, has been undertaking educational and social inclusion activities for young
people for many decades. It is currently promoting the game of rugby and its values in a deprived area
of Italy where young people are at risk of social marginalization, through a training programme
involving 14 schools, 80 classrooms and 2,500 students.
Training Centre in Chile
In the framework of the Santa María Thermal Power Plant Project
in southern Chile, Maire Tecnimont, jointly with the client, Colbún
SA, has started an educational project aimed at providing the local
community with the training and skills needed for various jobs on
site. The specific target has been to organize a multi-functional
training centre to train new employees in HSE issues, as well as
providing vocational training for the local population. Specific
training sessions focused on safety and environment are
provided as a pre-condition for site access and recruitment. The
vocational training centre has been set up in cooperation with the
Centro Educacional de Alta Tecnología (CEAT – High Technology
Educational Centre) in San Pedro de la Paz, Concepción. All new
staff of Maire Tecnimont sub-contractors on site pass through the
centre, where the Group’s HSE staff provide key information on
the power project, particularly on workplace risks and health,
safety and environmental issues. The training centre has had a
positive impact on the workers since its inception, by spreading
unified criteria and a single HSE approach to the different tasks
on site. In addition to HSE training, Maire Tecnimont finances four
vocational courses: electrical engineering, welding, plumbing,
and electro-mechanical instrumentation. Each course is attended
by about 15 participants and lasts for 40 hours. The minimum
admission requirement is a primary school diploma or, in some
cases, attendance at higher-level school. The full-day courses
require a minimum 80% attendance and include final test
evaluations. Each student receives a practical learning text and a
daily allowance for travel and lunch. The training centre project is
seen as an instrument of educational and social empowerment of
the local population.
82 83

13
Income Statement
CONSOLIDATED
FINANCIAL
STATEMENTS
Euro '000 2005 2006 2007 2008
Revenues 521,323 1,046,798 1,928,213 2,401,417
Other operating revenues 16,048 13,063 55,817 61,377
Total revenues 537,371 1,059,861 1,984,030 2,462,794
Raw materials and consumables (106,389) (328,875) (969,396) (929,050)
Services (318,112) (495,749) (669,295) (1,076,428)
Personnel (47,400) (123,024) (162,670) (219,240)
Other operating expenses (8,373) (18,054) (37,423) (50,712)
Total Costs (480,274) (965,702) (1,838,784) (2,275,430)
EBITDA 57,097 94,159 145,246 187,364
Amortization and depreciation (3,363) (7,143) (7,696) (14,807)
Devaluation of payables and cash (21) (2,771) (2,933) (1,659)
Provisions to the funds for risks and charges (11,362) (12,332) (4,664) (4,077)
EBIT 42,351 71,913 129,953 166,821
Financial income 10,651 26,918 23,583 35,299
Financial charges (14,518) (37,539) (31,060) (17,771)
Gain / (Charges) on investments (190) (177) (144) (107)
Pre-tax profit 38,294 61,115 122,332 184,242
Taxes (18,360) (30,603) (48,886) (61,618)
Profit (Loss) after tax
Attributable to:
19,934 30,512 73,446 122,625
Group 19,551 30,073 73,188 117,346
Minority interests
Data per share:
383 439 258 5,279
Net Income per share 0.23 0.37*
Number of shares outstanding (thousands)
* Calculated net of treasury stock
322,500 322,500
84 85

Balance Sheet
Euro '000 2005 2006 2007 2008
Property, plant and equipment 11,529 13,003 35,335 56,151
Goodwill 217,798 217,798 217,798 273,219
Other intangible assets 18,373 15,479 13,002 23,170
Investments in affiliates 539 537 592 2,934
Other non-current financial assets 3,687 10,662 11,014 9,116
Other non-current assets 10,973 25,527 39,652 75,245
Total non-current assets 262,899 283,006 317,393 439,835
Inventory 17,518 134,143 120,607 169,623
Construction contracts 134,860 202,148 215,707 488,916
Trade receivables 249,604 311,543 512,489 475,024
Current tax assets 14,462 26,454 35,587 70,417
Derivatives 123 17,272 44,109 10,060
Other current financial assets 43,757 29,866 52,297 11,544
Other current assets 96,464 77,259 104,468 127,910
Cash and cash equivalents 158,610 359,025 490,160 531,412
Total current assets 715,398 1,157,710 1,575,424 1,884,906
Total Assets 978,297 1,440,716 1,892,817 2,324,741
Share capital 15,000 15,000 16,125 16,125
Share premium account 25,000 25,000 83,045 83,045
Other reserves 0 5,328 6,012 1,863
Foreign currency translation reserve 1,261 793
Valuation reserve / Cash flow hedge (636) 12,559 35,938 6,981
Total capital and reserves 40,625 58,680 141,120 108,014
Retained earnings 4,061 18,332 48,453 99,622
Profit / (Loss) for the year 19,551 30,073 73,188 117,346
Group Shareholders' Equity 64,237 107,085 262,761 324,982
Minority Interests 1,894 8,844 2,108 5,602
Total Shareholders' Equity 66,131 115,929 264,869 330,584
Long-term debt 123,091 163,446 99,800 131,667
Provisions for risks and charges 19,191 24,771 19,395 24,022
Deferred tax liabilities 14,531 17,119 20,029 7,522
Provisions for employees retirement benefit 32,448 28,457 25,022 23,408
Other non-current liabilities 0 29,800
Other financial liabilities 0 5,047
Total non-current liabilities 189,261 233,793 164,246 221,466
Short-term debt 130,542 88,734 76,953 75,660
Provisions for risks and charges 0 0 8 12,071
Tax payables 32,033 36,764 47,921 47,989
Derivatives 5,531 7,024 2,706 1,000
Other current financial liabilities 81 0 309 0
Advances from customers 38,624 263,943 346,250 547,932
Construction contracts 126,294 169,109 177,877 244,351
Trade payables 338,785 460,950 735,771 772,304
Other current liabilities 51,015 64,470 75,907 71,384
Total current liabilities 722,905 1,090,994 1,463,702 1,772,691
Total Equity and Liabilities 978,297 1,440,716 1,892,817 2,324,741
Cash Flow Statement
Euro '000 2005 2006 2007 2008
Cash and cash equivalents at the beginning of the period (A) 85,572 158,610 359,025 490,160
Net Income 19,934 30,512 73,446 122,625
Adjusted for:
Ammortization of intangible assets 1,736 4,430 3,858 9,090
Depreciation of tangible assets 1,627 2,713 3,837 5,716
Provisions for risk and charges 11,362 12,332 7,598 5,736
Writedowns 190 291 290 153
Financial (income) / charges 684 10,018 7,622 (17,574)
Corporate income taxes 18,360 30,603 48,886 61,618
(Increase) / Decrease in inventory (17,078) (116,625) 13,536 (49,016)
(Increase) / Decrease in trade receivables 164,771 (61,940) (200,945) 35,807
(Increase) / Decrease in construction contract assets (10,745) (67,288) (13,560) (273,209)
Increase / (Decrease) in other liabilities 17,557 3,065 6,606 25,274
(Increase) / Decrease in other assets (25,521) 1,394 (90,602) (22,554)
Increase / (Decrease) in deferred tax liabilities 7,609 2,589 2,911 (12,507)
Increase / (Decrease) in trade payables (56,227) 347,485 357,127 238,216
Increase / (Decrease) in construction contract liabilities 16,612 42,815 8,769 66,474
Increase / (Decrease) in provisions for risk and charges
(including Retirement benefit provisions)
(3,321) (10,743) (16,402) 10,999
Income tax paid (4,721) (37,865) (46,861) (96,379)
Cash Flow from operating activities (B) 142,829 193,786 166,115 110,469
(Investment) / Disposal in non-current tangible assets 69 (4,186) (26,170) (26,532)
(Investment) / Disposal in intangible assets (1,150) (1,536) (1,381) (19,259)
Change in goodwill 3,155 - (0) (55,421)
Acquisition of companies (or business lines)
(99,564) -
net of cash and cash equivalents acquired
Investments in associated companies 7,568 2 (11) (2,342)
Increase / (Decrease) in other investment assets 19 (5,483) (4,716) 1,745
Cash Flow from investment activities (C) (89,903) (11,203) (32,278) (101,810)
Increase / (Decrease) on bank overdrafts (2,797) 40,633 (14,799) 8,539
Change in financial debt 24,661 (42,086) (63,397) 39,609
(Increase) / Decrease in stocks / bonds 42,529
Change in other financial assets / liabilities (1,174)
Increase in share capital (1,752) 19,285 1,125
Increase in share premium account 62,016
Costs of IPO (3,971)
Other reserves 16,324 (34,335)
Dividend payments (22,575)
Cash Flow from financing activities (D) 20,112 17,832 (2,702) 32,593
Total Increase / (Decrease) in cash and cash equivalents (B+C+D) 73,038 200,415 131,135 41,253
Cash and cash equivalents at the end of the period (A+B+C+D) 158,610 359,025 490,160 531,412
86 87

88
LIST OF ABBREVIATIONS
E&C: engineering and construction
EBITDA: earnings before interest, tax, depreciation and amortization
EPC: engineering, procurement and construction
EPCM: engineering, procurement and management of construction
EPPE: easy process polyethylene
FEED: front-end engineering design
GTCC: gas turbine combined cycle
HDPE: high density polyethylene
HSE: health, safety and the environment
KPI: key performance indicator
LCBR: low cis butadiene rubber
LTI: lost-time injury
LSTK: lump-sum turnkey
LDPE: low density polyethylene
LLDPE: low linear density polyethylene
OSHA: the US Occupational Safety and Health Administration
PE: polyethylene
PET: polyethylene terephthalate
PP: polypropylene
PTA: purified terephthalic acid
QMS: quality management system
Edited by Maire Tecnimont Communication Department
Graphic Design: Max Giglietti
Photos: Maire Tecnimont Image Bank, Gughi Fassino, Carlos Juan Jones, Matteo Paini, Shutterstock
Printing: Sograf Srl
July 2009
ALBANIA
Branch Office
Rruga Deshmoret e 4 Shkurtit
Sky Tower, Kati.5, Zyra. 54
Tirane
BRAZIL
Tecnimont do Brasil
Av. Paulista, 1842
7 andar – CJ. 75
Edificio Cetenco Plaza
Torre Norte
Cep 01310-200 Sao Paulo
P +55 11 21753900
F +55 11 21753952
comercial@mairengineering.com.br
Maire Engineering do Brasil
Av. Bias Fortes, 382
14-16-17 Andares-Lourdes
Belo Horizonte-Minas Gerais
Cep. 30.170-010
P +55 31 21086700
F +55 31 21086799
Av. Marechal Floriano, 19
19 andar – Centro
Cep 20080-003-Rio de Janeiro (RJ)
P +55 21 22334580
CHILE
Tecnimont Chile Ltda
Avda. Vitacura, 5250 Of. 208
CP 7630225 Santiago de Chile
P +56 2 899 2800
F + 56 2 3713626
FRANCE
Sofregaz SA
4, Allée de Seine
93200 Saint Denis
France
P +33 1 80603000
F +33 1 80603212
contact@sofregaz.fr
GERMANY
TPI - Tecnimont Planung und
Industrieanlagenbau GmbH
Eisenhüttenstraße 99
38239 Salzgitter
P +49 5341 214231
F +49 5341 218146
info@tpi-gmbh.com
SUBSIDIARIES,
BRANCH AND
REPRESENTATIVE
OFFICES
INDIA
Tecnimont ICB Pvt Ltd.
Bldg. No. 2, Plot No. 504
Chincholi Bunder
Link Road, Malad (West)
Mumbai 400064
P +91 22 66945555
F +91 22 66945599
info@ticb.com
Branch Office
Ashoka Hotel
Suite No. 446
50 B Chanakyapuri
New Delhi 110 021
P +91 11 26110101
F +91 11 24102337
ticbdel@satyam.net.in
Branch Office
Shanti Nikentan
4th Floor
8, Comac Street
Kolkata 700 017
P +91 33 22826790
F +91 33 22823200
IRAN
Branch Office
Flat n. 7, Bldg. N. 330
Kolahduz Street
Kaveh Cross Road
1943683461 Tehran
P +98 21 2257 9665
F +98 21 22574177
tecnimont@tecnimontiran.com
ITALY
Maire Tecnimont Headquarters
www.mairetecnimont.it
comunicazione@mairetecnimont.it
Via di Vannina, 88/94
00156 Roma
P +39 06 4122351
F +39 06 412235610
Viale Monte Grappa, 3
20124 Milano
P +39 02 63131
F +39 02 63139052
Corso Ferrucci, 112/a
10138 Torino
P +39 011 0056111
F +39 011 0056444

Viale L. Ariosto, 24/b
50124 Firenze
P +39 055 2280609
F +39 055 2335517
Via E. Mattei, snc
72100 Brindisi
P + 39 0831 5591
F + 39 0831 559229
Via Paleocapa, 3d
24122 Bergamo
P +39 035 0774200
F +39 035 0774250
KINGDOM OF BAHRAIN
Branch Office
Bldg. No 51, Road No 1401
Block No. 614, Um Al Baidh,
Manama
P +973 17735943 / 33617
F +973 17736095
KINGDOM OF SAUDI ARABIA
Tecnimont Arabia Ltd
Al Mukmal Plaza
5th floor - Office n. 51B
Palestine Street
P.O. Box 23448
Jeddah 21426
P +966 2 6686112
F +966 2 6672110
info@tecnimontarabia.com.sa
KUWAIT
Branch Office
Mareena Tower
Al Mahbula Gulf Rd.
Block 4 - 3rd. Floor
Office nr. 310
20 A-Tower - P.O. Box 750
Fintas 51008
P +965 3729845
F +965 3727075
LIBYAN GSPLAJ
Branch Office
Abdurrahman Dekheel Street
El-Andolus (Gargaresh)
Tripoli
P.O. Box 955
LUXEMBOURG
IMM.LUX.Sa
65, Boulevard Grande-
Duchesse Charlotte
L-1331
P +352 26449616
F +352 26383510
MALTA
JTS Contracting Company Ltd
2nd Floor, Level 5
The Mall Complex
The Mall, Floriana
P/F +356 21237640
NIGERIA
Tecnimont Nigeria Ltd
57 b, Lobito Crescent
Wuse 2, Abuja
P/F +234 9 4612456
techninigeria@yahoo.com
PEOPLE’S REPUBLIC OF CHINA
Representative Office
Silver Tower - Unit 617
2, Dongsanhuan Beilu
100027 Beijing
P +86 10 64106290/64106292
F +86 10 64106291
c.cai@tcmbj.com
POLAND
Tecnimont Poland Sp.Zo.o
Al. Wojska Polskiego 27 m 26
01-515 Warsaw
P +48 22 8699945
F +48 22 8699948
PORTUGAL
Tecnimont EIL Emirates –
Consultores e Serviços Lda
Avenida Arriaga 77
Edificio Marina Forum 6° Andar
Funchal (Madeira)
QATAR
Branch Office
c/o Qatar Chemical Company Ltd
Mesaieed Industrial City
State of Qatar
P +974 4766851
RUSSIAN FEDERATION
Tecnimont Russia OOO
Ul. Petra Romanova, 14, k.1
115193 Moscow
P/F +7 495 3801417
tcmru@online.ru
SPAIN
Empresa Madrileña de Ingenieria y
Construccion SA (Emic)
Paseo della Castellana, 115
60 izda
28046 Madrid
P +34 91 5972621
F +34 91 5556230
SWEDEN
Branch Office
c/o Borealis AB
SE-44486 Stenungsund
SWITZERLAND
TWS SA
Via L. Taddei, 13
6962 Viganello
Lugano
P +41 91 9713691
F +41 91 9713693
info@tws-sa.ch
UNITED ARAB EMIRATES
Branch Office
Electra Road
Al Nowais Building
P.O. Box 51120
Abu Dhabi
P +971 2 6450988
F +971 2 6447553
tecabd@emirates.net.ae

We are working in
Abu Dhabi (UAE) Al Jubail (Kingdom of Saudi
Arabia) Alexandria (Egypt) Avellino (Italy)
Bahrain (Kingdom of Bahrain) Bologna (Italy)
Bratislava (Slovakia) Cairo (Egypt) Catanzaro
(Italy) Cearà (Brazil) Cefalù (Italy) Cesena
(Italy) Cosenza (Italy) Cuneo (Italy) Dalian
(China) Daqing (China) Dunkerque (France) El
Tablazo (Venezuela) Falconara (Italy) Florence
(Italy) Fos Sur Mer (France) Guangdong (China)
Jiangsu (China) Jose (Venezuela) Karsto
(Norway) Kharg Island (Iran) Madrid (Spain)
Maranhao (Brazil) Marseille (France) Mato
Grosso (Brazil) Mesaieed (Qatar) Milan (Italy)
Münchsmünster (Germany) Nizhnekamsk
(Russian Fed.) Novy Urengoi (Russian Fed.)
Olevano (Italy) Omsk (Russian Fed.) Panigaglia
(Italy) Panipat (India) Puerto Coronel (Chile)
Rome (Italy) Salavat (Russian Fed.) Salerno
(Italy) Shuaiba (Kuwait) Singapore (SGP)
Stenungsund (Sweden) Tatarstan (Russian
Fed.) Tobolsk (Russian Fed.) Turin (Italy)
Valona (Albania) Wierzchowice (Poland)

www.mairetecnimont.it