Story
Maire Shares Climb After Unit Tecnimont Wins $1.5 Billion Argentina Contract
Shares of Italian engineering group Maire (MI:MTCM) rose 2.5% on Monday after its subsidiary, Tecnimont, secured a major contract valued at €1.3 billion (approximately $1.5 billion) to construct a new fertilizer plant in Argentina.
Project Details
The contract involves the construction of a urea complex that, upon completion, is set to be the largest in Latin America by production capacity, according to a company statement. Maire said the project is expected to be completed in just over three years.
Strategic Importance
AdThe deal provides a significant boost to Maire's order book. Analysts at broker Equita noted the contract represents approximately 14% of the engineering group’s estimated order intake for 2026.
Equita also stated that the award aligns with the company's current commercial momentum. The contract is a key contributor toward Maire's ambitious goal of achieving a €9 billion order intake for the fiscal year.
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