Companies from the RESBUD SE Group signed an agreement and a letter of intent for the implementation of significant contracts

Companies from the RESBUD SE Group signed an agreement and a letter of intent for the implementation of significant contracts

RESBUD SE and its subsidiary Conpol Sp. z o. o. signed a contract for Mrreconstruction and modernization of a guesthouse in Interlaken, Switzerland. In turn, Elektrqishloqqurilish JSC, the company whose controlling stake was taken over by RESBUD SE in September this year, signed a letter of intent for the construction of a complex of residential buildings in Uzbekistan with a total residential area of ​​approximately 22 m².

The total value of the contract for the performance of construction works as part of the investment consisting in the comprehensive reconstruction and modernization of an existing guest house in Interlaken, Switzerland, is CHF 1,6 million (approx. PLN 7,2 million). The deadline for the implementation of the contract is set for July 2024. The contractors of the contract are RESBUD SE and its subsidiary Conpol Sp. zoo, the ordering party is "Vasilina" SEK AG based in Faulensee, Switzerland.

The signed letter of intent concerns the conclusion of an agreement with LLC "Lord Rings-aflotun" based in Tashkent for the construction of a complex of residential buildings with a total living area of ​​approximately 22.000 m². The document was signed by Elektrqishloqqurilish JSC based in Tashkent, i.e. a subsidiary of RESBUD SE. For the purposes of implementing this contract, a special purpose vehicle will be established, in which Elektrqishloqqurilish JSC will hold a majority stake. This company will contribute the land for the investment to the newly established company. Detailed conditions for the implementation of the investment will be regulated in the final agreement regarding the construction of a residential complex, concluded between the special purpose vehicle and the investment contractor.

- Both the concluded contract for the reconstruction and modernization of a guesthouse in Interlaken, Switzerland, and the signed letter of intent regarding the construction of a complex of residential buildings in Uzbekistan with a total living area of ​​approximately 22 m² are very good news for our shareholders, proving the dynamic development of RESBUD SE after completion of the transformation stage of our portfolio. Their implementation will constitute a significant share in the portfolio of orders carried out by the RESBUD SE Group – says Krzysztof Długosz, President of the Management Board of RESBUD SE.

About the company Elektrqishloqqurilish JSC

On September 6, 2023, RESBUD SE and its subsidiary Conpol Sp. z o. o. signed
with Uralska Energetyczny-Budowlana Spółka Akcyjna (“UESK AO”) an agreement to purchase 100% of shares in two companies: Grid Solutions Sp. z o. o. and United Grid Solutions Sp. z o. o., owning directly 58,41 percent. shares of Elektrqishloqqurilish JSC.

Elektrqishloqqurilish JSC 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. Elektrqishloqqurilish JSC is considered one of the leading contractors of power grid facilities in Central Asia - it has performed power engineering works for such manufacturing companies as: Hyundai Engineering, Eriell, Hengyuan Group Co. Ltd. or Lukoil. The company's assets include the Namangan Iron Structures Factory, the Kuvasoy Concrete Products Factory, the Tashkent Technological Devices Production Plant and other assets.

About Conpol Sp. z o. o

Conpol Sp. z o. o. has extensive competences in the field of engineering and energy construction, as well as concrete and asphalt production. The company currently operates successfully on the Polish market, participating as a contractor in investments in the field of building, engineering and road construction.

The most important projects of the Company include: expansion of the Kraków-Balice International Passenger Terminal, construction of the A1 motorway on the Tuszyn-Pyrzowice section (section G), construction of engineering structures (bridges, viaducts) along with accompanying infrastructure on the E59 railway line (Leszno section). -Czempiń), execution of construction works on the section of the E30 Kraków Mydlniki–Kraków Główny Towarowy line, construction of bridge structures on the Szczecinek bypass, engineering structures on the S-3 route on the Jawor-Legnica section, construction of engineering structures (bridges) and delivery of 200.000 m3 of concrete for the need for their implementation on the Ełk bypass (as part of the S61 Via Baltica expressway running from Warsaw to Tallinn in Estonia), as well as the supply of concrete for the general contractor of the S-8 route (Radziejowice-Janki section) for the Strabag company.

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 United Grid Solutions and Grid Solutions, which hold 58,41% of the shares of Elektrqishloqqurilish JSC based in Tashkent), deal primarily with: construction of engineering facilities land 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 and construction of energy substations, as well as supply of materials and equipment for large infrastructure investments.