(Alliance News) - Maire Tecnimont Spa announced Thursday that Tecnimont has been awarded through competitive bidding by Sonatrach an Engineering, Procurement, Construction and Commisioning contract for a new linear alkyl benzene sulfonate plant - Llinear Alkyl Benzene, LAB - in the Skikda industrial zone, 350 kilometers east of Algiers.

LAB is a convenient biodegradable intermediate product used in the production of household and industrial detergents, and surfactants.

The contract value is approximately USD1.1 billion and includes the construction of a new LAB plant with a production capacity of 100,000 tons per year and associated utilities, infrastructure and interconnections with existing facilities.

The project is expected to be completed within 44 months from the effective date of the contract.

Maire's stock is up 4.7 percent to EUR6.75 per share.

By Chiara Bruschi, Alliance News reporter

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