Ministry of Treasury Started Construction of the Flagship Petrochemical Development of ORLEN Group in the Czech Republic - News -

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Started Construction of the Flagship Petrochemical Development of ORLEN Group in the Czech Republic

On Tuesday, 7 June 2016, Unipetrol, a strategic company of ORLEN Capital Group, officially inaugurated construction of the new polyethylene system (PE3) in the Czech production plant in Litvínovo. The celebration of laying the cornerstone for the development construction was attended e.g. by Czech Prime Minister Bohuslav Sobotka, Undersecretary of State in the Polish Ministry off Treasury Paweł Gruza and Wojciech Jasiński, PKN ORLEN Management Board President and Unipetrol Supervisory Board Chai

The project of the new system for polyethylene production (PE3) is one of the most longed-for development projects of ORLEN Group which will strengthen PKN ORLEN position on the chemical and petrochemical market in Central Europe. Its construction shall cost 5.76 billion CZK (213 million EUR), with the total development cost estimated to reach 8.5 billion CZK (314 million EUR). This will increase the investment outlays of PKN ORLEN for the development of the Czech Company after it entered the market, which reach close to 5 billion PLN now.

The production capacities of the new PE3 system which is to replace the working PE1 unit, shall be 270 thousand tonnes a year. PE2 polyethylene system (with the annual production capacities of 200 thousand tonnes) will still be used. The investment will help to increase the use of the ethylene system and enable deeper integration of the petrochemical and refinery production in Unipetrol Group. Thanks to using new technologies, the Company will be able to extend its business with new market sectors, including cosmetics and packagings. The new system will be built by Italian company called Technip, using the licensed technology obtained from INEOS by Unipetrol in late 2013.

 

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Published by: Piotr Krupa
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Last change: 07.06.2016
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