HEC Wins Contract of 1 Billion Euro Petrochemical Plant in Poland

The largest scale among projects that Korean builders have won in the EU

05/28/2019 Hyundai Engineering

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<html><head><meta name="GENERATOR" content="TAGFREE Active Designer"><meta http-equiv="Content-Type" content="text/html; charset=utf-8"><title></title></head><body>- The largest scale among projects that Korean builders have won in the EU On May 11 (local time), HEC signed a contract for Polimery Police PDH/PP plant project in Poland with a size of 992.8 million euros (approximately 1.288 trillion won). This contract marks the largest petrochemical plant construction project in Poland, and Korea’s biggest scale project won with a European Union (EU) member country, setting a new milestone in the Korean history of winning overseas projects. The project is to construct Polypropylene (PP) production facilities and infrastructure in the Police region, about 460 km northwest of the Polish capital Warsaw. The construction period is 40 months. The finished plant will have the production capacity of 400,000 tons of polypropylene per year. The produced polypropylene is expected to be widely used in industrial fields such as automobile parts, artificial fibers and various kinds of necessities and contribute greatly to the economic development of Poland. On the day before the ceremony, on May 10, HEC also signed the Investment Cooperation Agreement (ICA) on the equity investment for this project with Korea Overseas Infrastructure & Urban Development Corporation (KIND) and PDA Polska SA, the order placing entity. This contract is recognized as a feat of HEC for successful case of demonstrating the competence of "Overseas Construction Team Korea" through the synergistic effect of HEC's excellent marketing and technological efficiency with the government policy support by way of the equity investment of KIND. In addition, this winning of the project is remarkable in that it has diversified the business areas for Korean constructors based in the EU market from plants and office buildings to petrochemical plants.</body></html>

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HEC Wins Contract of 1 Billion Euro Petrochemical Plant in Poland