Formed in Rome in 1997, APS Engineering is active in the oil & gas and refining sectors. With over 400 projects completed in Italy, Europe, Africa, the Middle East and Asia, over the years APS has managed to extend the scope of its activity by participating in international tenders, obtaining contracts to build midsize and large turnkey installations.
“The purpose of modernizing the Izmit refinery is to process different types of crude, even those with high sulfur content, and to bring the refinery's production up to European standards. For APS the construction of the facility required a one-year commitment and 100,000 hours of work. For us, the support of SACE was like an accelerator, the catalyst in a chemical reaction. We were able to bid on and win a contract worth hundreds of millions of euros” Antonio Quadrato, Chairman and CEO of APS
To grow, Italian firms must operate abroad. But the competitiveness of Italian exports and supplies is increasingly linked not only to the quality and price of the products and services provided but also the financing conditions offered to foreign customers.
In the case of APS, SACE guaranteed a € 624 million loan in favor of the Turkish firm Tüpraş (Koç Group), earmarked for the purchase of Italian goods to modernize the refinery in the Gulf of Izmit. Within the project, APS was awarded the role of procurement agent, coordinating all the subcontracts of the small and midsize Italian suppliers involved.
With its Purchaser Credit policy, SACE guarantees the loans provided to foreign counterparties to purchase goods and services from Italian companies, expanding the financing capacity of the banking system.
Do you want to offer your foreign customers competitive loans for buying your products and services?
Through the Buyer Credit Policy, SACE insures funding granted by banks to foreign counterparties in order to purchase goods or services from Italian companies or their subsidiaries.
Find out how APS has won an important contract in Turkey thanks to SACE's aid.