Duro Felguera decidirá en una junta en septiembre la aprobación del Proyecto Tula

Duro Felguera has announced an extraordinary general meeting on September 18th at its headquarters in Langreo, Spain, to approve a 210 million euro project in Mexico. This contract, known as the Tula Project, marks the beginning of a new era for Asturian engineering following the company's restructuring plan. The project involves constructing the Francisco Perez Rios combined cycle power plant, a facility promoted by Mexico's Federal Electricity Commission.

The main contractor is Mot-Engil Mexico, a subsidiary controlled by Prodi Group, which shares control of Duro Felguera. This operation requires approval by Duro Felguera's shareholder meeting due to its link with Prodi's participation. The company has informed Mexico's National Stock Exchange of its intention to hold a sole in-person meeting on September 18th and, if necessary, on September 19th.

The agenda will focus solely on approving or rejecting the Tula Project agreement between Duro Felguera and Mot-Engil Mexico. Mot-Engil Mexico seeks management of the project, technical coordination, and supply and integration of all auxiliary systems, areas tied to its expertise in electrical generation and turnkey projects. The combined cycle power plant in Francisco Perez Rios will have a total capacity of 1,000 megawatts and a total investment of approximately 1,294 million euros, with a 47-month construction timeline.

Company sources informed EFE that this is the first major project the engineering firm is undertaking since the recent judicial validation of the restructuring process, which included a 10 million euro capital injection from the Mexican Prodi Group, debt reduction, and divestitures of non-strategic assets. Following the restructuring, the company plans to focus on smaller, lower-risk projects with more contractual discipline in this new phase.