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CIECH signed a letter of intent with GAZ-SYSTEM on establishing cooperation in the construction of a salt mine and an underground gas storage facility and cooperation in the supply of salt brine to CIECH Soda Polska

On 5 December 2019, a letter of intent was signed between CIECH and an Industrial Gas Pipeline Operator, GAZ-SYSTEM on establishing cooperation in the implementation of an investment, consisting in the construction by GAZ -SYSTEM of a salt mine and an underground gas storage facility at the Damasławek salt dome, together with a line infrastructure, and cooperation in the supply of salt brine to CIECH Soda Polska production plants.

 

 

CIECH and GAZ-SYSTEM are to conduct negotiations, the purpose of which will be to develop solutions taking into account the interests of the parties, and to sign the Term Sheet document regulating, among others, conditions for the implementation of the Investment, including the estimated cost and schedule of the Investment, the principles of its financing by each party and key cooperation assumptions after the completion of the Investment, which then will be detailed under investment agreements and a long-term commercial contract for the supply of brine.

 

The execution of the letter of intent is one of the steps towards ensuring the security of brine supply for the production plants of CIECH Soda Polska after 2025.

 

 

CONTACT DETAILS

Mirosław Kuk, Press Spokesperson of the CIECH Group

miroslaw.kuk@ciechgroup.com, tel. +48 723 66 86 86

 

CIECH is an international, expanding chemical group, with a strong standing on European and global markets and with a stable strategic investor (Kulczyk Investments). The company exports its products to over 100 countries around the world, including soda ash, purified soda, salt, plant protection agents, epoxy and polyester resins, polyurethane foams, silicates, and glass packaging. CIECH manufactures products of the highest, world-class quality, which are further used to produce articles which are essential in the everyday life of people all over the world. At the same time, it combines a modern approach to business with the tradition of production which dates back to 1882. Since 2005, the company has been listed on the Warsaw Stock Exchange and, since 2016, on one of the largest stock exchanges in Europe: Börse Frankfurt. More information is available at www.ciechgroup.com.

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