The largest contract in the history of Polimex Mostostal and Naftoremont-Naftobudowa covering works in the Oil&Gas sector
On 5 July 2023, a consortium of companies comprising: Polimex Mostostal, Naftoremont-Naftobudowa sp. z o.o. a Polimex Mostostal Capital Group company and KTI Poland S.A. concluded contracts with ORLEN S.A. for the implementation of the task entitled: "K-003 PACKAGE from the OSBL scope of the Olefin plant expansion package".
"The contracts we signed today are the largest in the history of Polimex Mostostal and Naftoremont-Naftobudowa involving the execution of works in the Oil & Gas sector. The project involves the execution of multi-discipline works in the EPC formula for the extension of the OSBL infrastructure dedicated to the Olefin III complex and part of the infrastructure ensuring further operation and development of the Orlen S.A. Main Plant in Płock. The trust placed in us by the client and the fact that we have been entrusted with the realisation of this investment is not only a way of recognising our company, but also a great responsibility. We have the competence and resources, proven on refinery-related projects carried out for clients both at home and abroad. We are able to organise the work front by relying on proven project teams with many years of experience working for major European refineries. Today's contract is proof that the Polish company is successfully competing with major international EPC contractors around the world", said Krzysztof Figat, President of the Management Board of Polimex Mostostal S.A. and Naftoremont-Naftobudowa sp. z o.o.
"The Olefins III complex will be the most modern petrochemical plant in Europe, strengthening ORLEN's position as the plastics market leader in the region. The contract signed today with the consortium of Naftoremont-Naftobudowa, Polimex Mostostal and KTI for the construction of the infrastructure required for development projects in Płock, including Olefin, is another milestone in this endeavour. We made a meticulous assessment of the market in order to identify the best contractors who have the necessary capacity to guarantee efficient execution of the task. I am glad that, thanks to the contract, we will have the opportunity to cooperate in the implementation of an investment of significance for the entire Polish economy", says Daniel Obajtek, President of the Management Board of ORLEN S.A.
The subject of the Agreements is the performance of multi-discipline works in the EPC formula within the material scope of K-003 Package, covering the performance of the executive and construction design, obtaining a building and use permit decision, performance of analyses, expert opinions and inventories necessary for the construction of flare systems, trestles, pipelines for technological, power and auxiliary utilities, gas pressure reduction station, underground piping, construction of medium and low voltage lines, roads, fire pumping stations and other works that are required for the proper use and operation of the subject of the contract expected to be performed as a consequence of the settlement of the private proceedings entitled: "K-003 PACKAGE from the OSBL scope of the Olefin plant expansion package". The scope of work includes, among other things, the construction of approximately 24,000 tonnes of steel structures, 7,500 tonnes of aboveground pipelines and 60 km of underground network installations. The work will be carried out under an active plant regime, with strict safety and quality requirements, over a period of 45 months from the date of signing the Contracts. The total estimated remuneration under the Contracts amounts to PLN 3,872,000,000 net, of which the remuneration attributable to the Issuer and its subsidiary amounts to 88.7% of the value of the entire task.