Tecnicas Reunidas

What Tecnicas Reunidas does

Tecnicas Reunidas is a Madrid-headquartered international general contractor founded in 1960, publicly listed on the Spanish stock exchange (BME:TRE) with a workforce of more than 13,000 professionals across 91 nationalities and four global engineering centers in Spain, India, Abu Dhabi, and Turkey. The company provides end-to-end Engineering, Procurement, and Construction (EPC) services for industrial plants in the energy sector, organized around six market verticals: Clean Fuels, Petrochemicals, Natural Gas (including LNG), Hydrogen, Circular Economy, and Carbon Capture and Sequestration (CCS). Its core delivery model is large-scale project execution secured through competitive bidding and direct negotiation with state-owned and international energy majors; over 65 years the company has completed more than 2,600 projects in over 70 countries.

Revenue is generated primarily through fixed-price, multi-year EPC contracts with milestone-based billing, complemented by front-end engineering design (FEED) and consulting services. The firm targets €500 million in engineering services revenue by 2028 and has a stated 2026 new-awards goal of €7 billion. It differentiates on proprietary process technology — RARETECH for rare-earth refining, PHOS4LIFETM for phosphorus recovery, STELAH alkaline electrolysis for renewable hydrogen, and ReSil2Volt for end-of-life solar-panel recycling — and on 144 in-house R&D specialists. Major recent customers include ADNOC, ADNOC Gas, Aramco, bp, Shell, TotalEnergies, ConocoPhillips, ArcelorMittal, RWE, LNG Canada, Coastal Bend LNG, and St George Mining. The company is preparing to spin off its power division (TR Power) by mid-2026, with a €1 billion revenue target by 2030.

FY2025 revenue reached €6,465.9 million, a 45% year-over-year increase, with Q4 2025 sales up 52% and EBIT up 74% versus Q4 2024. Headcount of 5,001–10,000 in core listing data is contradicted by company-reported 13,000+ professionals, suggesting the band figure is understated.

Name

Tecnicas Reunidas

Legal name

TÉCNICAS REUNIDAS, S.A.

Website

https://tecnicasreunidas.es

Company type

Public

Founded year

1960

Operating status

Operating

Headcount range

5,001–10,000 employees

Short description

Tecnicas Reunidas is a Madrid-based international EPC contractor founded in 1960, providing engineering, procurement, and construction services for energy-sector industrial plants — including LNG, gas processing, hydrogen, CCS, and petrochemicals — to national oil companies and energy majors across 70+ countries.

Ownership category

akta.pro rank

Product category

Industrial EPC Engineering and Construction Services

NAICS

Engineering Services (541330), Engineering Services (54133), Electrical Equipment Manufacturing (3353), Architectural, Engineering, and Related Services (5413)

SIC

Cogeneration Services & Small Power Producers (4991), Industrial Process Furnaces & Ovens (3567), Electrical Industrial Apparatus (3620), Oil & Gas Field Machinery & Equipment (3533)

akta.pro primary industry

Construction Management & General Contracting (EPCM, Scheduling, QA/QC, HSE) (EUAMAFAJ)

akta.pro secondary industries

Combined Cycle & Cogeneration (CHP) EPC (EUAEAAAB), Power Plant Retrofit, Life Extension & Environmental Controls EPC (FGD/SCR/ESP) (EUAEAAAO), Waste Heat Recovery & Heat Integration (HRSG/ORC, Pinch Analysis, Heat Exchangers) (EUABAJAF), Solar PV Power Plant EPC (Utility-Scale) (EUAEAAAG)

Keywords

• EPC engineering services
• Industrial plant construction
• Oil and gas processing
• LNG facility engineering
• Energy transition solutions

Headquarters

HQ city

Madrid

HQ country

Spain

HQ region

Europe

Offices28 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Supply Chain, Technology or R&D, Infrastructure, Marketing or Sales

Revenue model

1. EPC Contracts: Engineering, Procurement, and Construction contracts for industrial plants in the energy sector. Revenue recognized over project duration with typically long-term contract cycles.
2. Engineering Services: Front-end engineering design (FEED) services and consulting. The company targets €500 million in engineering services revenue by 2028.
3. Power Division (TR Power): Planned spin-off of power division by mid-2026, targeting €1 billion annual revenue by 2030.

Pricing tiers

Go-to-market motion2 records

Distribution channels2 records

Marketing channels4 records

Core offering

Tecnicas Reunidas is an international engineering, procurement, and construction (EPC) contractor that designs and builds large-scale industrial plants for the energy sector, covering oil refineries, gas processing facilities, LNG terminals, petrochemical plants, and power generation assets. The company also delivers proprietary process technologies for rare earth refining (RARETECH), phosphorus recovery (PHOS4LIFE), alkaline electrolysis for renewable hydrogen (STELAH), and photovoltaic panel recycling (ReSil2Volt). Its services span front-end engineering design (FEED), project management, procurement, construction, and commissioning for energy transition, decarbonization, and critical minerals processing projects worldwide.

Product overview

Tecnicas Reunidas is one of the world's leading engineering and construction (EPC) companies providing sustainable industrial plant solutions, with over 60 years of experience and more than 1,000 plants built in over 50 countries. The company's core offering is its EPC services portfolio, organized around market sectors including Clean Fuels, Petrochemicals, Natural Gas (including LNG), Hydrogen, Circular Economy, and Carbon Capture and Sequestration (CCS). Tecnicas Reunidas differentiates itself through proprietary technologies including RARETECH® for rare earth processing, PHOS4LIFETM for phosphate processing, STELAH alkaline electrolysis technology for green hydrogen production, and ReSil2Volt for photovoltaic recycling. The company operates four global engineering centers in Spain, India, Abu Dhabi, and Turkey, supported by 144 R&D experts. The company also maintains a power division (TR Power), announced for spin-off by mid-2026, targeting €1 billion annual revenue by 2030. Tecnicas Reunidas operates with a strategic target of €7 billion in new awards for 2026 and €500 million in engineering services revenue by 2028.

Differentiator

Problem solved

Functional benefit

Brands

• TR Power: Power division of Técnicas Reunidas announced for spin-off by mid-2026, targeting 1 billion euros annual revenue by 2030.
• RARETECH®

Products and services

• EPC (Engineering, Procurement, and Construction) Services End-to-end engineering, procurement, and construction services for industrial plants, spanning design, project management, procurement, and construction management for enterprise clients in the energy sector.
• Clean Fuels Engineering and Construction

Quantifiable outcome

• 45% increase in FY2025 revenue to €6.5 billion
• +4 more outcomes

Named customers13 records

Segments5 records

Ideal customer profiles5 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature5 records

Partnerships

Nine partnerships are on record, tiered major and core.

• Target Engineering Construction CompanymajorStrategic or Co-development PartnerEmirati partner of Técnicas Reunidas in the Dalma Gas Development Project awarded by ADNOC. Técnicas Reunidas received $510 million portion of the $950 million contract for designing and constructing onshore gas processing facilities on Arzanah Island as part of the Ghasha concession.
• IdomcoreStrategic or Co-development Partner50/50 consortium partner with Técnicas Reunidas for ArcelorMittal decarbonization project at Dunkirk, France. Consortium awarded EPCm contract to build new Steel Making Plant featuring 2-million ton electric arc furnace and ladle furnace with three times less CO2 than traditional blast furnace methods.
• St George MiningcoreStrategic or Co-development PartnerAustralian critical minerals developer partnered with Técnicas Reunidas under MoU to conduct processing test work on rare earth samples from the Araxá deposit in Minas Gerais, Brazil. Técnicas Reunidas applying proprietary RARETECH technology for refining rare-earth mineralization. The Araxá deposit is the largest hard-rock niobium and rare earths deposit in South America and among the largest globally.
• Osmond ResourcescoreStrategic or Co-development PartnerPartnership agreement with Técnicas Reunidas to develop Europe's first fully integrated production of mixed rare earth carbonates and oxides within the EU. Deal includes extracting monazite and producing final rare earth products domestically in Europe. Osmond owning the processing facility with Técnicas Reunidas providing proprietary technology and EPC services. Partnership targets Orión EU critical minerals project in Spain's Andalucía region.
• KBRcoreStrategic or Co-development PartnerJoint FEED and EPC partnership with Técnicas Reunidas for Coastal Bend LNG's planned natural gas liquefaction and export facility along Texas Gulf Coast. Project to utilize ConocoPhillips' Optimized Cascade Process technology with goal of producing cost-competitive LNG while mitigating greenhouse gas emissions through integrated carbon capture and storage.
• RWE and GE VernovamajorStrategic or Co-development PartnerJoint project with RWE and GE Vernova to develop an 850 MW hydrogen-compatible combined cycle power plant in Voerde, Germany. Project supports Germany's energy transition and coal phase-out, with plant capable of operating on at least 50% hydrogen by 2030.
• Matteco, AIJU, and University of Valencia (STELAH Consortium)coreStrategic or Co-development PartnerConsortium led by Técnicas Reunidas for the STELAH project developing next-generation alkaline electrolysis stacks to produce renewable hydrogen. Matteco developed new catalytic material combinations avoiding scarce critical materials such as platinum derivatives. Project funded by Valencian Innovation Agency and European Union through FEDER program with €903,513.17. Testing confirmed feasibility and scaling potential under representative operating conditions.
• PERMANET Project ConsortiumcoreStrategic or Co-development PartnerEU-funded PERMANET project involving 12 countries and 32 partners working to build a European supply chain for permanent magnets. Técnicas Reunidas leading the project, potentially opening European markets for St George's Araxá rare earths alongside existing alliances in US and Brazil.
• NPCC PJSCmajorChannel Partner/ Reseller/ DistributorJoint venture partner with Técnicas Reunidas for ADNOC Gas $3.6 billion MERAM project to expand gas processing infrastructure at Habshan complex. Project will increase ethane extraction by 35-40% and deliver natural gas liquids to Ruwais Industrial Complex via new 120-kilometer pipeline. Over 70% of contract value flows back into UAE's economy under ADNOC's In-Country Value program.

Scale indicators13 records

Recent moves1 record

Expansion highlights6 records

Broad incumbents

• Worley: Australia-based global energy projects and engineering services firm. Comparable as an EPCM/services incumbent serving IOCs and NOCs across LNG, hydrogen, CCS, and refining — though Worley is more services-weighted while TR is more construction-weighted.
• Fluor Corporation: Large US-listed global EPC company operating across energy, mining, infrastructure, and industrial sectors. Overlaps with TR on LNG, gas processing, and refining EPC; offers a broader portfolio of services but competes directly on energy megaprojects.
• John Wood Group: UK-based consulting and EPC services major across energy and industrial markets. Overlaps with TR on LNG, refining, and clean-energy engineering services; complementary as a more services/consulting-oriented competitor rather than full EPC.

Direct peers

• Petrofac: UK-listed integrated EPC and operations services provider for the energy sector. Comparable in customer profile (NOCs/IOCs), project types (gas processing, LNG, refining), and project-based revenue model targeting Middle East and North Sea markets.
• Technip Energies: France-based pure-play EPC contractor focused on LNG, refining, petrochemicals, hydrogen, and CCS — the same downstream energy verticals that anchor TR's order book. Directly competes for FEED and EPC awards in LNG, ethylene, and blue/green hydrogen projects globally.
• Maire Tecnimont (NEXTCHEM): Italian EPC contractor group (including NEXTCHEM for sustainable tech) focused on refining, petrochemicals, fertilizers, and green hydrogen. Closely comparable by geography (Southern Europe base, global execution), customer base, and focus on energy-transition technology integration.
• KBR: US-based EPC contractor joint-ventured with TR on Coastal Bend LNG FEED/EPC. Directly competes in LNG liquefaction (Optimized Cascade, AP-X), ammonia, and energy-transition engineering, with similar dependence on NOC and IOC awards.
• Saipem: Italian-headquartered international EPC contractor with overlapping oil & gas, LNG, and energy-transition project portfolios. Both companies compete head-to-head for NOC and IOC mega-contracts across the Middle East and Europe, and both are spinning off or refocusing energy-transition units.
• McDermott International: US-based EPC specialist in offshore upstream, subsea, LNG, and refining. Closely comparable customer overlap (Middle East NOCs including ADNOC), LNG-and-gas project mix, and project-based revenue model targeting the same super-cycle.

Emerging players

• Subsea7: Subsea-focused engineering and construction contractor adjacent to TR's offshore-adjacent EPC work (e.g., Ghasha concession/Dalma). Both serve ADNOC and similar offshore gas developments, but Subsea7 is purely subsea-installation focused versus TR's broader plant scope.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat6 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xx.com/trsa_rrhh
• LinkedInlinkedin.com/company/tecnicas-reunidas

Revenue estimate

Valuation estimate

Number of profiles

Profiles4 records

Subsidiaries1 record

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Tecnicas Reunidas