SINOPEC Engineering (Group) Co., Ltd. Class H (HK:2386) has released an update.
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SINOPEC Engineering (Group) Co., Ltd. and Tecnicas Reunidas have secured a joint $2.5 billion EPC contract for an ethane cracking project in Kazakhstan, backed by Silleno LLP and other major stakeholders like KazMunayGas and SINOPEC. The project aims to advance Kazakhstan’s petrochemical industry and will contribute to the Group’s backlog. However, the company cautions shareholders and investors not to take this contract as a profit forecast.
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