Erbud has signed a contract worth PLN 67.37 million for the subcontracting of the Lotos Group HBO contract

Erbud signed a contract worth PLN 67.37 million for works related to the Hydrocracking Oil Unit (HBO) project of the Lotos Group. The investor is the Italian company KT-Kinetics Technology. The works are scheduled to be completed on June 24, 2024.
Grupa Lotos concluded an agreement with KT-Kinetics Technology, in September last year. Its value was then estimated at EUR 0.22 billion, with the total capital expenditure for the HBO Project estimated at approximately EUR 0.32 billion.

On August 1, 2022, PKN Orlen assumed all the rights and obligations of Grupa Lotos, in accordance with the provision of Art. 494 § 1 of the Commercial Companies Code (universal succession).

The Erbud Group is a Polish construction group that provides services in the residential, commercial, public utility, engineering, road and energy sectors in Poland and European countries. It has been listed on the Warsaw Stock Exchange since 2007. In 2021, it had PLN 3.1 billion of consolidated revenues.
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