UBAF, alongside Tecnicas Reunidas for the construction of the new Sonatrach oil refinery project

A new issuance of a guarantee on behalf of Tecnicas Reunidas

UBAF issuance of a guarantee on behalf of Tecnicas Reunidas
Trade finance
10 July 2020

issuance of a guarantee on behalf of Tecnicas Reunidas

Jointly with Samsung Engineering and Tecnicas Reunidas, the turnkey project (Engineering, Procurement and Construction, EPC) has a total value of USD 4Bn. UBAF issued its counter guarantee in favor of the Banque Extérieure d’Algérie for performance and advance payment bonds, for a total value of EUR 130Mn.


Through its strong banking network and solid balance sheet, UBAF regularly supports large EPC and infrastructure projects in Africa and the Middle East region.

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