FACTS & FIGURES - Tecnimont ICB

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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
Page 1 and 2: FACTS & FIGURES 2008
Page 3 and 4: Revenues by sector Revenues by geog
Page 5 and 6: 1 CHAIRMAN’S STATEMENT Dear Share
Page 7 and 8: 2 MISSION AND VALUES 6 7 Mission To
Page 9 and 10: The challenges posed by the interna
Page 11 and 12: 4 14 10 January MT signs a contract
Page 13 and 14: 17 September Construction begins on
Page 15 and 16: Table A Maire Tecnimont Safety 2008
Page 17 and 18: Quality Policy and Quality Manageme
Page 19 and 20: client representatives, financing p
Page 21 and 22: poor infrastructure. That is why la
Page 23 and 24: Main Licensors - Polymers, Chemical
Page 25: Middle East and Mediterranean Area:
Page 29 and 30: Gas gathering & treatment Natural G
Page 31 and 32: 9 POWER The general economic slowdo
Page 33 and 34: Energy for Albania Albania is a cou
Page 35 and 36: SERVING URBAN DEVELOPMENT IN LARGE
Page 37 and 38: Connecting Southern Italy Historica
Page 39 and 40: 11 CORPORATE GOVERNANCE Company Pro
Page 41 and 42: SAVERIO SIGNORI Born 1961. A gradua
Page 43 and 44: Executive in Charge of Preparing th
Page 45 and 46: “In the Open” Project The Maire
Page 47 and 48: Balance Sheet Euro '000 2005 2006 2
Page 49 and 50: Viale L. Ariosto, 24/b 50124 Firenz
Page 51: www.mairetecnimont.it

FACTS & FIGURES - Tecnimont ICB

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