Budimex and Mostostal Kraków sign a strategic cooperation agreement with Hyundai Engineering

News date: August 13, 2021
Budimex and Mostostal Kraków sign a strategic cooperation agreement with Hyundai Engineering

On 12 August 2021, Budimex SA and Mostostal Kraków SA signed an agreement on strategic cooperation in the Polish refining, petrochemical, energy and infrastructure markets with Hyundai Engineering Co., Ltd SA Branch in Poland.


Artur Popko, CEO of Budimex, participated in the meeting dedicated to signing the agreement, attended also by Jacek Lech, CEO of Mostostal Kraków, and Paweł Śmigała, the Proxy. Hyundai was represented by Won Ock Kim – Vice-President, Jung Ho Song, Head of the Energy Infrastructure Department responsible for the European market, and Iga Lis – Member of the Management Board of Hyundai Engineering Poland sp. z o.o. – a subsidiary of HEC.


Under the agreement, the parties will each time decide on joint participation in a specific project. Should Hyundai agree, the Budimex Group will support it in the bidding process at the stage of negotiations with the client, and will also perform the contract if it is won. This is a general framework agreement. If the parties are interested in joint activities, it is a strong basis for further work together, especially in project implementation.


"We are pleased with the strategic cooperation agreement we have signed today, the more so that Mostostal Kraków of the Budimex Group has already been implementing projects with Hyundai for a total approximate value of PLN 48 million. In 2020 contracts were signed for the assembly of the steel structure for the Polimery POLICE project and for the delivery of the steel structure for platforms, also under the same project,” says Artur Popko, CEO of Budimex SA.


"Hyundai Engineering has currently two large projects in the chemical industry in its Polish market portfolio and intends to expand its long-term operations on the Polish market. Especially in the current pandemic situation, partnership with Polish companies in the implementation of projects in Poland is a priority for Hyundai Engineering, as it reduces the risk of a supply chain breakdown. Hyundai Engineering sees the need to optimally utilise local resources in the country where a project is being carried out in terms of materials, equipment and professional subcontractors, wherever it is technically possible and economically reasonable, and therefore the strategic cooperation agreement signed with the Budimex Group is a milestone for projects in Poland," emphasized Won Ock Kim, Vice-President of Hyundai Engineering.