Spanish Duro Felguera, specialized in the delivery of turnkey projects in the energy, mining & handling, oil & gas, smart control systems and defense and security sectors, has signed an MoU (Memorandum of Understanding) with Metco Engineering for energy efficiency and resilience projects in the USA. The purpose of the agreement is to contract over 200 million US dollars per year.
In order to reach this goal a pipeline of electricity generation projects has been selected for public and private clients in various different states, which fit in with the strategies and capacities of both companies. Likewise, a joint work team has been set up and it is already working on following up on the projects and presenting bids; financing methods are already available for projects in this market.
Duro Felguera’s entry into energy efficiency and resilience projects in the USA is one of the steps forward in the company’s New Business Plan to be presented to investors for the upcoming capital increase. Diversification in business divisions, a better positioning in the market, increased productivity and better risk control are all essential elements in the relaunching of Duro Felguera. More specifically, the business Duro Felguera will have access to through the agreement with Metco Engineering provides better returns and recurrent revenue with a lower operational risk profile in a market with a high level of technology and client solvency.
Additionally, both parties are exploring the collaboration and growth in different businesses to develop new products with other technologists, by both setting up joint ventures and by means of shareholding in subsidiaries, or other forms of development.