Why the Saipem Deal Isn’t a Construction Commitment Yet
Aduro Clean Technologies' selection of Saipem S.p.A. for Early Works on its Chemelot facility moved the company's flagship recycling project from concept toward what one analysis called an “engineering-defined stage.” Aduro itself has stopped short of calling it a construction commitment, and the distinction matters for how the announcement should be read.The instrument behind the selection is a conditional letter of award, an entry point...