Jointly with Samsung Engineering and Tecnicas Reunidas, the turnkey project (Engineering, Procurement and Construction, EPC) has a total value of USD 4Bn. UBAF issued its counter guarantee in favor of the Banque Extérieure d’Algérie for performance and advance payment bonds, for a total value of EUR 130Mn.
Through its strong banking network and solid balance sheet, UBAF regularly supports large EPC and infrastructure projects in Africa and the Middle East region.
Subtitle
A new issuance of a guarantee on behalf of Tecnicas Reunidas
Sub-heading
issuance of a guarantee on behalf of Tecnicas Reunidas
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Short description
UBAF is pleased to announce the issuance of a guarantee on behalf of Tecnicas Reunidas for the construction of the new Sonatrach Hassi Messaoud refinery project in Algeria.
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