Contract between HEP and Petrokemija

Presidents of Petrokemija d.d. and HEP d.d. signed in Kutina on February 24 a contract for sale/purchase of a 110 kV switchyard with the associated land on Aleja Vukovar, Kutina.

Over the past few years electricity consumption in the wider Kutina area has been growing at a faster rate than the Croatian average, between five and six percent a year. Moreover, as HEP’s representatives pointed out, new expansions have been planned and new connection approvals have already been issued so that further consumption growth is expected in the Kutina area. Petrokemija and HEP, as good business partners, have for the past few years been making arrangements for HEP’s use of Petrokemija’s facilities for electricity transmission purposes. Because Petrokemija owns the 110 kV switchyard, connected with three transmission lines, a year ago the two companies signed a contract for right-of-way after which HEP built a temporary facility for supply of the Kutina area and the parties signed a preliminary contract for the 110 kV switchyard. After division into land lots, on February 24 a contract was signed for the sale of the switchyard to HEP, worth 7.2 million kuna. “With this sale we have created the conditions for further development of industry and the economy in the Kutina area. The contract is the proof of the excellent cooperation between HEP and Petrokemija in the past, at present and in the future. We have many common points and joint plans.” said after the signing Ivan Mravak and Boris Mesarić, presidents of management boards of HEP d.d. and Petrokemija d.d.