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Ukraine focuses on South Korea. What about Poland and the gas hub?

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DF International Group, together with Hyundai Engineering Co. Limited, has signed an agreement to build an industrial chemical park in Ukraine. According to DF Group’s press release, the document was signed by the founder and CEO of DF Group, Dmytro Firtash, and the CEO of Hyundai Engineering, Hyeon-Sung Hong. The agreement was signed on April 12th in Vienna.Copy HTMLCopy text

Powerful Ukrainian-Korean project

Forbes.ua provides key facts about the Ukrainian-Korean agreement:

  • The project involves the construction of facilities producing “environmentally friendly” ammonia, nitrogen fertilizers, and other chemical derivatives. The project also includes the production of hydrogen and ammonia based on renewable energy sources.
  • “Hyundai Engineering has extensive expertise in the design and construction of industrial facilities,” said Robert Shetler-Jones, CEO of Group DF International GmbH. “This project has the potential to change the role of Ukrainian chemistry and the Ukrainian economy on the industrial map of the EU,” he emphasized.
  • The Ukrainian-Korean working group plans to start work on the investment project roadmap in May 2024. At this stage, the focus will be on developing an action plan, particularly in terms of technical documentation and financial preparations.
  • The first phase of the project includes the construction of facilities at “Rivnoazot” in Ukraine.

The project has a history. In November 2023, DF International Group and Hyundai Engineering signed a memorandum of understanding, which included cooperation in joint investment projects for fertilizer production in Ukraine and other countries. The plans involved the construction of new facilities and the modernization of existing chemical plants owned by DF Group.

Hyundai Engineering Co., Ltd is a Korean company founded in 1974. It provides engineering solutions for the industry and is a global player in industrial construction, architecture, infrastructure, and asset management. The company operates mainly in the field of green energy, construction, infrastructure, and asset management.

In March of this year, Ostchem, which combines the nitrogen business of DF Group, launched a new workshop for the production of urea-ammonia mixture (UAN) with a capacity of 300,000 tons per hour at PJSC “Rovnoazot”. In 2023, the volume of mineral fertilizer production in Ostchem’s plants increased by 19.5% to 2.1 million tons. In particular, the production volume of UAN, which is one of the most promising segments of the Ukrainian nitrogen fertilizer market, doubled.

What about Poland?

As reported by Dorzeczy.pl, Dmytro Firtash also had plans for Poland. He intended to build the necessary infrastructure for handling and transporting liquefied natural gas (LNG), making our country a strategic international gas hub and connecting the United States with Ukraine.

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“(…) Dmytro Firtash founded the company West Stream Energy in Poland. Firtash also purchased a building on Szucha Street in the center of Warsaw, where West Stream will operate after extensive renovation. Firtash describes his vision as a “golden opportunity” for the Polish government and a “win for Poland, Ukraine, and the USA.” Robert Shetler Jones, Firtash’s representative in Poland, says that “this strategy is typical of Mr. Firtash’s business philosophy, according to which all key players – suppliers, consumers, and transit countries – must have their interests and all must benefit from the agreement,”” Dorzeczy.pl reported in March of this year.

“The approval of the agreement by the Polish government is now crucial for Firtash’s vision to become a reality,” said Robert Shetler-Jones, CEO of DF International GmbH, as quoted by Dorzeczy.pl.

Will Poland benefit from Dmytro Firtash’s proposal? This will be decided, among others, by the government led by Donald Tusk.

Robert Wyrostkiewicz, journalist (amdg2007@gmail.com)

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