Hyundai Engineering and the Korea Overseas Infrastructure & Urban Development Corporation (KIND) have extended their cooperation and stabilization agreement with Polish petrochemical firm Grupa Azoty and state-owned oil company Orlen for a petrochemical plant project in Poland.
According to Grupa Azoty and Orlen on June 24, the agreement related to the Police PDH (Propane Dehydrogenation) and Polypropylene (PP) plant project, jointly pursued by the four parties, has been extended until July 14.
This is the second extension, following a previous one that extended the agreement through May 23.
The four companies initially signed the cooperation and stabilization agreement in December 2023 as a follow-up to a letter of intent signed by Grupa Azoty and Orlen in September 2023. The agreement aims to explore strategic options for the petrochemical plant project.
The project involves the construction of a 440,000-short-ton-per-year polypropylene production facility, along with supporting infrastructure such as a port, in Police, a city located approximately 285 miles northwest of Warsaw. The main facilities have been completed, and final finishing work is currently underway.
