FACTS & FIGURES - Tecnimont ICB

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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.
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 and 26: Middle East and Mediterranean Area:
Page 27 and 28: Münchsmünster, Germany The contra
Page 29 and 30: Gas gathering & treatment Natural G
Page 31: 9 POWER The general economic slowdo
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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