Conclusion of a contract for design work
Date of publication: 14.02.2022
Management Board of PROCHEM S. A. with its seat in Warsaw (hereinafter referred to as the “Issuer”) informs that on January 28, 2022, concluded an agreement with Hyundai Engineering Poland sp. z o. o. Tecnicas Reunidas S.A. general partnership with its seat in Warsaw.
The subject of the contract is the provision of services related to the implementation of a part of the building permit design (i. e. detailed design) for the investment Expansion of the Olefin III Installation at the production plant of PKN Orlen S. A. in Płock.
At the same time, the Issuer’s Management Board informs that it is another contract for the provision of engineering services for the investment Expansion of the Olefin III Installation at the PKN Orlen S. A. production plant in Płock. The previous contract concerned a land development design and an architectural and construction design and was concluded in December 2020 with Hyundai Engineering Co., Ltd. Spółka Akcyjna Branch in Poland.
In the opinion of the Management Board, none of the above agreements meets the criteria for confidential information specified in Art. 7 paragraph 1, 2 and 4 of MAR due to the value of these contracts.
However, due to the fact that today the total value of contracts for the provision of services related to the performance of a part of the Building Permit Design for the Expansion of Olefin III Installation , concluded with entities with the participation of Hyundai Engineering Co., Ltd has reached the level of approx. EUR 2.1 million net, the Management Board of the Issuer’s company decided that the above information meets the criteria for confidential information specified in Art. 7 sec. 1, 2 and 4 of MAR.
The Issuer’s remuneration for the performance of contracts is a lump sum and is paid in installments related to the advancement of works. The deadline for completing the work depends on the dates of delivery of the documents covering assumptions by the principals.