Hochtief waits for office block

Alan Heath
29-06-2001, 00:00

Hochtief waits for office block

Norman Foster, one of the best known architects in the world, has a plan for an office building in Plac Piłsudski in Warsaw. The investor is a subsidiary of the American Hainz and Warsaw city authorities. The main contractor is to be Hochtief Polska and the contract is worth USD80m — USD100m. Construction is however being delayed because of legal problems linked with a former owner.

Hochtief, whose turnover last year came to PLN857m hopes that the deal will go ahead. The company now has a 1.5 percent share of the Polish construction market and is hoping to increase this to 2 - 3 percent.

Managing director Andrzej Mogielnicki says that the company no longer plans any acquisitions and that the group is complete. It has four subsidiaries, Budokor, which works in central Poland, KPIS Cracovia in the south, Poy-Building in the west and Północ-Gdynia in northern and north eastern Poland.

Hochtief Polska specialises in development contracts but owing to increasing competition for road and bridge building, housing, energy and environmental construction, Hochtief intends not to push for these jobs. Hochtief won its way through to the final of the contract to redevelop the airport at Warsaw — Okęcie but owing to the cancellation of the second phase will have to fight it all over again. The contract is worth more than PLN1bn.

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Podpis: Alan Heath

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