The Council of Ministers approved on Tuesday the granting of a reimbursable credit on OECD commercial terms from the Fund for the Internationalisation of Enterprise, F.C.P.J. (FIEM) to finance engineering, procurement management and construction supervision services for the first phase of execution of a terephthalic acid (PTA) plant in Adana, Turkey for up to 36,550,000 US dollars to SASA Polyester Sanay.
SASA Polyester awarded, in November 2020, the execution of the plant, which will have a production of 1.5 million tonnes per year, to the company Técnicas Reunidas, one of the leading Spanish engineering firms, established in 1960, and which, since then, has designed and built more than 1,000 industrial plants in more than 50 countries.
The PTA is used, among others, in the pharmaceutical, textile and food packaging and life extension industries. The scope of the contract includes the engineering and integrated management of equipment and materials supply, construction, pre-commissioning, commissioning, testing and start-up of the plant.
Spanish services account for 76% of the contract. In addition, the execution of this engineering optimises the possibilities of awarding a new turnkey contract for the plant for an amount of 750 million dollars, according to the Spanish government.
This project also consolidates Técnicas Reunidas in the design and construction of PTA plants, a product for which new investments are expected in the short term, both in Turkey and in other countries and regions. The company has carried out 14 projects in Turkey with companies such as Tupras, Socar, Ipras and Botas.