Over 111 million euros of contractual penalties. Azoty reject the claims of the polymer contractor

After the expiry of the cooperation and stabilization agreement as part of the implementation of the Police Police project and the failure to reach an agreement on mutual claims, Grupa Azoty Polyolefins decided to calculate contractual penalties for delay on the basis of an EPC agreement clause in the amount of EPC in the amount of EUR 111.8 million – Grupa Azoty said in a message.

Grupa Azoty Polyolefins decided to reject a change proposal, under which the contractor, i.e. Hyundai Engineering, demanded an increase in remuneration on the land concluded on May 11, 2019. Agreement for the comprehensive implementation of the Polimery Police project at the “turnkey” formula for a flat -rate price (EPC agreement) by 24.15 million euros in the most The contractor demanded an extension of the EPC contract for 166 days, rejecting the proposal to extend the deadline by 95 days (above the indicated 166) and increasing the remuneration by EUR 39.8 million, rejecting the proposal to pay compensation for the contract of receipt and interest for delay in payment, for receiving a total of approx. 190 milestone in the total amount of 5.8 million euros, rejecting Extending the deadline by an additional 43 days (over 261 indicated) and increasing the remuneration by the amount of EUR 9.6 million, rejecting the proposal to demand an increase in remuneration by an amount of EUR 116.2 million.

Grupa Azoty informed earlier that on July 31, 2025, the agreement for cooperation and stabilization between key stakeholders under the implementation of the Polimery Police Police project of 19 December 2024 concluded by Police, Grupa Azoty, Grupa Azoty Polyolefins, Orlen, Hyundai Engineering Co., Ltd. and Korean Overseas Infrastructure & Urban Development. Corporation.

On August 1, 2025, on the date of its July 31, 2025, the Memorandum of Understanding between Police, Grupa Azoty, Azoty Polyolefins and Orlen Group was concluded.

The goal of Mou is to determine the framework of cooperation between the parties in terms of the potential transaction of the use of selected assets belonging to the Azoty Polyolefins Group and the Port Port Port Board, including the transhipment and warehouse terminal and port plots used by the Azoty Polyolefins Group. The agreement provides for a transparent and open sales process, to which Orlen will be invited as one of the potential buyers.

doa/ asa/