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Polimex Mostostal SAAzoty Pulawy calls on Polimex Mostostal consortium to pay penalty for withdrawal from contract
Listed chemicals group Azoty's unit, Azoty Pulawy, has issued and delivered a debit note to the contractor of the 100 MWe coal-fired unit investment - listed builder Polimex Mostostal consortium - in the amount of over PLN 239 million (EUR 57.3 mln). Azoty Pulawy expects Polimex Mostostal to pay a contractual penalty for withdrawal from the contract for reasons attributable to the contractor, the group said in a press release.
"At the same time, Grupa Azoty Pulawy is in talks and seeking an amicable resolution of the dispute with the contractor to successfully complete the investment. Inventory work is also underway to determine the status of the investment," Azoty Pulawy pointed out.
"However, taking care of the company's interest under the contract, the company is obliged to demand a contractual penalty from the contractor for withdrawal from the contract," it added.
In January, Azoty Pulawy reportedly informed Polimex Mostostal that it had withdrawn from the contract for the construction of a coal-fuelled power unit in Pulawy, in the unfulfilled part, due to the contractor's fault.
Polimex Mostostal indicated that the statement of withdrawal from the contract by Azoty Pulawy group was unfounded.
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