Planning the construction of Ukraine: GROUP DF INTERNATIONAL and HYUNDAI ENGINEERING are building an industrial park in Ukraine.

Cooperation agreement signed by Dmytro Firtash (GDF) and Hyeon-Sung Hong (HEC).

Vienna (OTS) –

Cooperation agreement between Group DF International and Hyundai Engineering Co. Ltd. was signed on April 11, 2024. This marks the beginning of the Chemical Industry Park project in the Ukrainian city of Rivne.
Chemical storage includes the construction of several facilities in the city of Rivne: a plant for the production of nitrogen fertilizers and “environmentally friendly” hydrogen and ammonia.
A joint Ukrainian-Korean working group will start developing a “map” for the largest investment project in western Ukraine in May 2024.

Vienna – Seoul, April 12, 2024 – DF International GmbH Group, an Austrian-based industrial group owned by Ukrainian entrepreneur Dmytro Firtash, has decided to develop a chemical industrial park in the city of Rivne that will be built as part of the post-war Ukrainian war. reconstruction. A similar cooperation agreement was signed yesterday, April 11, 2024, in Vienna, Austria, by Dimitry Firtash, Founder and Chairman of DF Group, and Hyeon-Sung Hong, CEO of Hyundai Engineering.

The large project includes the construction of facilities for the production of ammonia, nitrogen fertilizers and other chemical products. It also includes the establishment of Ukraine’s first hydrogen and ammonia production based on renewable energy sources.

“I am convinced that this strategic document is an important starting point for revitalizing Ukraine in the future. This project has the potential to change the role of Ukrainian chemistry and the Ukrainian economy on the industrial map of the EU. Hyundai Engineering has extensive experience and expertise in the design and construction of industrial equipment. A new strategic business alliance can provide a fruitful partnership. Working with Hyundai, we will be at the forefront of restoring Ukrainian chemistry,” said Robert Shetler-Jones, Group Managing Director of DF International GmbH.

“Our countries have had very similar experiences. 70 years ago our economy was destroyed by war and we rebuilt it. From our experience we know that it is very important to build infrastructure and industrial facilities. Therefore, we believe that the cooperation between our companies has a symbolic meaning. We expect that our practical experience in the design and construction of large industrial facilities in the EU and Asia will be useful in Ukraine,” emphasized Hyeon-Sung Hong, Hyundai’s Chief Engineering Officer during the signing ceremony.

Previously, DF International GmbH Group and Hyundai Engineering Co. Limited of South Korea signed a memorandum of understanding on November 15, 2023, which envisaged cooperation through the creation of joint investment projects in the field of fertilizer production in Ukraine and other areas. In particular, joint action plans have been planned for projects to build new and modern plants for the Chemical Group.

background

Hyundai Engineering is a Korean company founded in 1974. The company provides engineering solutions to industry and is a global player in industrial plant engineering as well as infrastructure and asset management. In the infrastructure sector, the company implements “smart city” projects and projects related to clean energy. Recently, the company has been taking a leading role on the path to carbon neutrality, investing heavily in clean hydrogen production and carbon dioxide conversion technology.

To die DF International Group integrates assets in the gas distribution, chemical, titanium and port sectors, as well as in agriculture and media. The founder and owner of DF Group is Ukrainian businessman Dmytro Firtash. By the end of 2023, DF Group companies have paid a total of UAH 3.25 billion in taxes to the state budget of Ukraine.

OSTCHEM is the nitrogen holding company of the DF International Group, which brings together the largest producers of mineral fertilizers in Ukraine. It includes Rivneazot, Cherkasy Azot, as well as Severodonetsk Azot and Styrol (which are located in the occupied territory and are therefore not currently operational). Ostchem Distribution is represented by Ostchem Retail and warehouse network “UkrAgro NPK”. In 2023, OSTCHEM’s nitrogen plants produced 2.1 million tons of mineral fertilizers.

JSC Rivneazot is one of the largest producers of mineral fertilizers. Since the purchase of JSC Rivneazot by Dmitry Firtash, more than UAH 1.3 billion have been invested in the company.