Green light for the contract in Opole. Polimex-Mostostal, executing a contract for the construction of two new power units in the power plant in Opole, received the bank guarantees required under the contract.

Acquiring bank guarantees for the proper performance and advance repayment, each in the amount of PLN 199 million, was a prerequisite for the commencement of the construction.

The contract for the construction of two power units at the power plant in Opole is another coming into force, following the one in Kozienice, significant contract of Polimex-Mostostal in power engineering, the strategic industry of the company.

Its value is PLN 11.5 billion gross, of which approximately 42%, i.e. PLN 4.83 billion is the share of Polimex-Mostostal.

It is the largest and historically crucial investment in the Polish energy sector. Thanks to it, there will be a significant increase in Polish electricity generation capacity using modern technology. The execution of this contract will strengthen the position of Polimex-Mostostal in the power engineering sector.

After the smooth conduct of the critical stage of the operational and financial restructuring of the company, it is fully prepared to execute this strategic contract.

The key activities in the process of reorganization of the company have been completed. Among others, the organizational structure of the company has been optimized, management costs have been significantly reduced, the disinvestment process in the company is progressing well. This allows the company to focus on operating in the current strategic sectors of the market.

Polimex-Mostostal, under the contract, shall execute turbine islands and build an evaporating tower with a cooling water system. They shall also execute electrical systems including control and measurement instruments and automation. The company will also participate in the design work. Turbine generators for the new units will be provided by Alstom.

The start of construction works is scheduled for early February. The Contract with the Purchaser i.e. PGE Mining and Conventional Power SA [PGE Górnictwo i Energetyka Konwencjonalna S.A.] assumes that block No. 5 will be built within 54 months, while block No. 6 within 62 months.

Polimex-Mostostal is well prepared for this project. The company is fully mobilized. The managerial staff of Polimex-Mostostal have the experience and know-how in the construction of energy facilities. Polimex-Mostostal also has significant experience in cooperation with major foreign partners.