Brief: Grupa Azoty Says Hyundai Engineering Seeks Over EUR 457 Mln From Polyolefins Unit In Arbitration

Grupa Azoty SA

30/12/2025 06:24

Dec 30 (Reuters) - Grupa Azoty S.A. ATTP.WA:

GRUPA AZOTY SAYS ITS SUBSIDIARY GRUPA AZOTY POLYOLEFINS RECEIVED AN ARBITRATION CLAIM FROM HYUNDAI ENGINEERING CO., LTD

SAYS CLAIM WAS FILED AT VIENNA INTERNATIONAL ARBITRAL CENTRE

CLAIM RELATES TO HYUNDAI'S TERMINATION OF THE EPC CONTRACT FOR THE UNIT'S POLIMERY POLICE PROJECT IN AUGUST 2025

HYUNDAI SEEKS A TOTAL OF 457.1 MILLION EUROS IN CLAIMS

HYUNDAI CLAIMS 117.3 MILLION EUROS IN OUTSTANDING REMUNERATION

HYUNDAI ALSO CLAIMS 107.6 MILLION EUROS RELATED TO A PERFORMANCE BOND PAYMENT

HYUNDAI FURTHER CLAIMS 232.2 MILLION EUROS FOR ADDITIONAL COSTS AND DAMAGES

HYUNDAI IS ALSO SEEKING A DECLARATION THAT IT LAWFULLY TERMINATED THE CONTRACT

GRUPA AZOTY SAYS ITS SUBSIDIARY REJECTS THE CLAIMS BOTH AS TO PRINCIPLE AND AMOUNT

SAYS ITS SUBSIDIARY WILL FILE A RESPONSE TO THE CLAIM WITHIN THE DEADLINE SET BY THE ARBITRAL CENTRE

 Source text: nEM2rpvmNa
 Further company coverage: ATTP.WA

 (Gdansk Newsroom)

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