Brief: Grupa Azoty Unit Files For Arbitration Against Hyundai Engineering Over Polymer Project

Grupa Azoty SA

31/12/2025 06:25

Dec 31 (Reuters) - Grupa Azoty SA ATTP.WA:

SAID ON TUESDAY THAT UNIT GRUPA AZOTY POLYOLEFINS FILED AN  ARBITRATION CLAIM AGAINST HYUNDAI ENGINEERING IN VIENNA INTERNATIONAL ARBITRAL CENTRE

ARBITRATION CLAIM RELATES TO IMPLEMENTATION OF 'POLIMERY POLICE' PROJECT

CLAIMS TOTAL UP TO 2.98 BILLION EUROS

CLAIMS ARISE FROM HYUNDAI ENGINEERING'S ALLEGED FAILURE TO FULFIL OBLIGATIONS UNDER EPC CONTRACT AND FAILURE TO COMPLETE PROJECT AS PLANNED

CLAIMS INCLUDE CONTRACTUAL PENALTIES FOR DELAYS, DAMAGES FOR LOSSES, AND DEMAND FOR RECTIFICATION OF DEFECTS

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