Hyundai Engineering withdraws from the contract for the implementation of the Polimery Police project

Hyundai Engineering a statement of withdrawal from the contract for the comprehensive implementation of the Polimei Police project at the “turnkey” formula for the flat rate was received by the Hyundai Engineering group at a flat -rate formula – Grupa Azoty said in a communiqué.

As reported, withdrawal from the contract was due to the not -required payment guarantee requested by Hyundai Engineering.

According to the message, the Azoty Group Board announced that Grupa Azoty Polyolefins will question the effectiveness of a submitted statement, including Due to the fact that at the time of submitting the statement, the contract was no longer in force.

On August 14, Grupa Azoty Polyolefins decided to withdraw from the contract for the comprehensive implementation of the Police Police project at the “turnkey” formula for a lump sum, for reasons charging the contractor, i.e. Hyundai Engineering. Therefore, she charged contractual penalties in the amount of EUR 111.83 million. (PAP Biznes)

MBI/ ANA/