Tecnicas Reunidas SA, a Spanish builder of oil refineries, climbed to a six-month high in Madrid trading following a report that it won a 150-million-euro order to upgrade a plant in Greece.
Tecnicas rose as much as 3.3 percent to 50.70 euros, the highest since November 12.
The Spanish company will get 100 million to 150 million euros to provide engineering and design services for Hellenic Petroleum SA’s Elefsina refinery, Merrill Lynch & Co analyst Alejandro Demichelis said today in a report, citing the Greek oil company.
Total project investment may rise to 1.1 billion euros based on permits, the report said.
(KATHIMERINI, 07/05/2008)