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A subsidiary of RESBUD SE signed a contract for the performance of works as part of the 220 kV overhead line construction project on the section "Sherabad-2" Substation - "Surkhan-500" Substation

22.09.2023

A subsidiary of RESBUD SE signed a contract for the performance of works as part of the 220 kV overhead line construction project on the section "Sherabad-2" Substation - "Surkhan-500" Substation

September 15 this year JSC "Elektrqrqishloqqurilish" signed an agreement with "HEX Solar" LLC for the performance of works under the project "Construction of a 220 kV overhead line Substation "Sherabad-2" - Substation "Surkhan-500"" worth approximately PLN 5,8 million. The works should be completed on November 30, 2023 The Uzbek company JSC "Elektrqrqishloqqurilish" has been part of the RESBUD SE Group since September this year, when the Polish company took over 58,41% of its shares. The signed contract has a significant share in the order portfolio carried out by RESBUD SE, affects the maintenance of current revenues, and will also increase the future income and results of the Group.  

 

On September 6, 2023, RESBUD SE, listed on the Warsaw Stock Exchange, and its subsidiary Conpol Sp. z o. o. signed an agreement with Uralska Energetyczny-Budowlana Spółka Akcyjna ("UESK AO") for the purchase of 100% of shares in two companies: Grid Solutions LLC and United Grid Solutions LLC, directly holding 58,41% of shares of JSC "Elektrqrqishloqqurilish", operating in the sector power engineering and engaged in the production, construction, installation, as well as modernization of power lines (PTL) and construction of power substations in the Republic of Uzbekistan.

Details of the contract signed with "HEX Solar" LLC

September 15 this year JSC "Elektrqrqishloqqurilish" signed an agreement with "HEX Solar" LLC, based in China. As part of the signed contract, the subsidiary of RESBUD SE will construct a 220 kV overhead line on the section "Sherabad-2" Substation - "Surkhan-500" Substation, and the works should be completed by the end of November 2023. The value of the concluded contract is PLN 5,8 million . The scope of work carried out by JSC "Elektrqrqishloqqurilish" includes the delivery and installation of a 220 kV HV line on a 20 km section.

 

The general contractor of the project titled "Construction of 220 kV overhead line Substation "Sherabad-2" - Substation "Surkhan-500"" is LLC "HEX Solar", a company that is part of China Machinery Engineering Corporation ("CMEC"), a large Chinese engineering and trading concern. The ordering party is Masdar Clean Energy, a company founded in 2006 and a world leader in the field of renewable energy and sustainable development. Its shareholders include three leading energy leaders in the United Arab Emirates – Abu Dhabi National Oil Company (ADNOC), Mubadala Investment Company and Abu Dhabi National Energy Company PJSC (TAQA).

 

The above-mentioned construction is part of a broader investment that will improve the reliability of power supply to energy consumers from the Surkhandarya power unit. The implementation of the task will also enable increasing cost efficiency and reliability of energy supplies to facilities and people, as well as enabling the export of electricity abroad.

 

- We are very pleased with the concluded contract for the performance of works as part of the construction of a 220 kV overhead line on the section "Sherabad-2" Substation to Surkhan-500 Substation. The signed contract plays a significant role in our order portfolio that we carry out as the RESBUD Group, and influences the maintenance of current revenues and increases future income, and will also have a positive impact on our results. Uzbekistan is a dynamically developing market where we plan to gradually expand our operations. Observing him, we see that he has great development potential – said Krzysztof Długosz, President of the Management Board of RESBUD SE.

 

About the company China Machinery Engineering Corporation (CMEC)

 

China Machinery Engineering Corporation is a construction and engineering company that is part of the China National Machinery Industry Corporation (Sinomach) group, one of the 500 largest companies in the world. CMEC specializes in the construction of energy projects in the field of generation, transmission and distribution.

 

The company was founded in 1978. Over more than 40 years of development, CMEC has become an international corporation whose main areas of activity are engineering contracts and industrial development, based on a full industry chain including trade, design, research and logistics. It offers comprehensive solutions tailored to the individual needs of clients in the field of integrated regional development and various types of engineering projects.

 

CMEC is present in over 160 countries and regions. He has completed a number of high-quality projects in energy, water management, environmental protection, agriculture, infrastructure, transport facilities, industrial engineering and communications.

 

About the company JSC "Elektrqrqishloqqurilish"

JSC "Elektrqrqishloqqurilish" is a company operating in the electricity sector, engaged in the production, construction, installation and modernization of power lines (PTL) and construction of power substations in the Republic of Uzbekistan. JSC "Elektrqrqishloqqurilish" is considered one of the leading contractors of power grid facilities in Central Asia - it has performed power electrical works for such manufacturing companies as: Hyundai Engineering, Eriell, Hengyuan Group Co. Ltd. or Lukoil. The company's assets include the Namangan Iron Structures Plant, the Kuvasoy Concrete Products Plant, the Tashkent Technological Devices Production Plant and other assets.

RESBUD SE

RESBUD SE is a modern, dynamically developing European holding, operating in the construction, power and civil engineering markets as well as supplies of materials for the construction and energy sectors, listed on the Warsaw Stock Exchange since 2007. It combines a modern approach to business with 70 years of experience in the construction industry. The companies included in his investment portfolio (Conpol Sp. z o. o. Uniwersim Sp. z o. o. and JSC "Elektrqrqishloqqurilish" Aksiyadorlik jamiyati based in Tashkent - through the companies: Grid Solutions LLC and United Grid Solutions LLC), deal primarily with: construction of facilities civil engineering on road and railway routes, erection of reinforced concrete structures, construction works, civil engineering, production of bitumen and concrete, production, construction, installation and modernization of power lines (PTL) and construction of energy substations, as well as supply of materials and equipment for large investments infrastructure.

 

Contact for media: media@resbud.pl

IR contact: ir@resbud.pl

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