Conclusion of a contract for the supply of DN1000 insulated steel pipes for OGP Gaz-System SA by the subsidiary Izostal SA
With reference to current report No. 8/2020 of 20 April 2020, the Management Board of STALPROFIL SA (Company) informs that on 30 April 2020, it received information about the conclusion of a Partial Agreement between the subsidiary Izostal SA (Contractor) and OGP Gaz-System SA with its registered office in Warsaw (Employer).
The subject of the Partial Agreement is the production, sale and delivery of externally insulated and internally painted DN1000 steel pipes for the investment tasks carried out by OGP Gaz-System SA accompanying the Baltic Pipe gas pipeline (executive proceedings No. 5), with a length of 55 km.
The value of the Partial Agreement is PLN 97.1 million net, which is PLN 119.4 million gross.
The contractor will implement the Subject of the Partial Agreement from 1 November 2020 to 30 April 2021.
Detailed conditions on which the above-mentioned Partial Agreement will be implemented, including a description of contractual penalties, are set out in the Framework Agreement, of which the Company informed in current report No. 29/2019 of 16 August 2019.
The Management Board of the Company considers the described contract significant due to its high value. The implementation of the abovementioned agreement will have an impact on the increase in revenues of the STALPROFIL SA Capital Group.