SACE (CDP Group) supported two operations in the petrochemical sector, respectively worth $650 and $800 million, which were awarded last night in London during the PFI Awards 2019, the gala evening organized by Project Finance International - one of the leading international journals specializing in project finance - to reward the best industrial projects in the world. More than 800 professionals from companies, banks and other financial institutions attended the event.
In the first operation, relating to the expansion of the capacity of the Sitra refinery in Bahrain owned by the state oil company Bapco, SACE worked to support Technip Italy Spa and about 50 Italian subcontracting SMEs that participated in the realization of the project.
In the second operation, however, SACE supported Tecnimont and 4 other large Italian exporters in the Rapid project in Malaysia relating to the construction of a refinery and a petrochemical plant within the larger industrial complex called Pengerang Industrial Complex. Additionally, in this operation SACE supported more than 110 SMEs that contributed to the construction of the new plant as Tecnimont subcontractors.
Through these awards, SACE reaffirms its role in support of the Italian economy, carried out both by large exporting companies and small and medium-sized enterprises organized in excellent production chains.