Duro Felguera to develop projects jointly with TSK30 July 2018
The synergies will increase their international presence and speed up growth
The Asturian engineering companies Duro Felguera and TSK have reached an agreement to develop turnkey projects jointly in the engineering, mining and handling, industry, environment and oil&gas sectors.
The main benefit will be the pooling of the capacities that the two companies can contribute to their projects. They will be able to strengthen the scope and depth of their projects, particularly those related to renewable and combined-cycle generation. They will also have a greater presence and critical mass at geographic level and will be able to manage their risks better.
The two companies have between them constructed power generation plants of over 35,000 megawatts of installed capacity in both renewable and conventional energy. With respect to industrial plants, the two companies also have experience in oil & gas installations, mining, mineral concentration, desalination plants, the iron and steel industry, cement, paper and sugar.
Joint working team
Currently, TSK is working on projects in 35 countries, and Duro Felguera on 28. Initially, the new partnership will address a list of potential projects for which a joint working team has been created.
The two companies have engineering and project management capacity with more than one thousand employees in their facilities in Gijón, Madrid, Vitoria, Cologne (Germany), Dallas (United States), Dubai and a number of Latin American capitals.
Following the capital increase it has just carried out, the agreement will allow Duro Felguera to speed up its business plan to 2021, when it expects to post sales of over €1 billion. The US engineering company Metco and Qatar's ACEC participated in the capital increase, and together with TSK, between them hold around 25% of Duro's capital.