Home page Investor relations Current reports Conclusion of a contract for design work

Date of publication: 03.12.2020

The Management Board of PROCHEM S.A. with its registered office in Warsaw (hereinafter referred to as the “Issuer”) informs that on September 24, 2020 received a mutually signed contract for design work, which was concluded with the consortium of companies PORR S.A. and TGE Gas Engineering GmbH.
Based on the above-mentioned Agreements, the Issuer – as a Designer, is obliged to perform part of the design works for the investment including the Expansion of the onshore part of the liquefied natural gas regasification terminal in Świnoujście.

The parties set the deadline for the performance of the contract (excluding as-built documentation) for September 30, 2021.

At the same time, the Issuer’s Management Board informs that this is another agreement concluded with the consortium of companies PORR S. A. and TGE Gas Engineering GmbH for design work on the investment related to the LNG terminal.
In May 2020, the Issuer concluded an agreement with the indicated consortium for design works for the investment including the Expansion of the LNG Terminal in Świnoujście based on the SCV regasification system and increasing the regasification capacity.

In the opinion of the Management Board, the fact of concluding the contract in May 2020 does not independently meet 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 design work contracts between the Issuer and the consortium of PORR S. A. and TGE Gas Engineering GmbH reached the level of PLN 8.8 million net, the Management Board of the Issuer decided that the above information meets the criteria for confidential information specified in Art. 7 paragraph 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.