Group DF, which consolidates the assets of Ukrainian businessman Dmitry Firtash, including nitrogen chemicals companies of Ostchem holding, has signed a memorandum with Korean construction company Hyundai Engineering Co., Ltd on cooperation in Ukrainian projects in the construction and reconstruction of chemical plants for the production of fertilizers.
According to the holding’s release, cited by Interfax-Ukraine, the document provides for the creation of joint investment projects in the fertilizer industry both in Ukraine and in other jurisdictions. It is about the construction of new and reconstruction of existing chemical plants of Group DF. It is emphasized that the parties will cooperate in good faith and make all necessary efforts to achieve the common goal of rebuilding Ukraine.
“Group DF is developing a strategy to restore the chemical industry in post-war Ukraine and plans to meet the pent-up demand from the Ukrainian agricultural sector. With the support and cooperation of Hyundai Engineering Co, we will contribute to the revival of Ukraine’s economy and strengthen the chemical industry. The Group is also considering all kinds of cooperation with Hyundai Engineering Co. in projects to restore and expand its logistics infrastructure,” said Robert Shetler-Jones, CEO of Group DF International GmbH.
“The company is ready to consider options for participating in the post-war recovery of Ukraine’s chemical industry. We sincerely believe in the prospects of infrastructure restoration, reconstruction and construction of gas processing plants,” said Lim Seung Jae, Senior Vice President of Hyundai Engineering Co., Ltd.
Hyundai Engineering Co, Ltd is a Korean multinational contractor for the engineering, procurement and construction of oil and gas processing plants, including fertilizer and chemical plants.
Group DF consolidates Dmitry Firtash’s assets in the gas distribution, chemical, titanium and port industries, as well as in agriculture and media.
Ostchem is Group DF’s nitrogen holding company that unites the largest mineral fertilizer producers in Ukraine. It includes Rivne Azot, Cherkasy Azot, as well as Sievierodonetsk Azot and Stirol, which are not operating and are located in the occupied territories.
