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Spanish oil engineering company Tecnicas Reunidas said on Monday it had won a contract from Mexican state-run oil company Pemex for a refining project worth over $500 million.
The two-part contract, which is expected to last more than three years, includes the designing, engineering, construction, supplying and starting up of three new refining units for Pemex’s General Lazaro Cardenas de Minatitlan refinery.
The work forms part of Pemex Refinacion’s $5.5-billion development and modernisation plan, Tecnicas Reunidas said in a note to the Spanish stock market regulator.