MOSCOW (MRC) -- PKN Orlen has received management and supervisory board approval to build a new metathesis unit that will increase propylene capacity by 100,000 t/y at its site in Plock, Poland, as per GV.
The project, estimated to cost approximately PLN 400-million, is now entering the execution stage. It will raise propylene capacity at Plock to 550,000 t/y from 450,000 t/y. A schedule was not given.
The new unit will be built under a license from Lummus Technology. Under the agreement, Lummus will also provide technical and engineering consulting services.
"We want to maximize capacity utilization in Poland and the Czech Republic, and push for greater integration between petrochemical and refining areas, which will give us flexibility required to respond to market changes in demand for fuels and petrochemicals," said Wojciech Jasinski, president of PKN's management board.
"We will focus on products with a broad range of applications in the plastics industry, because the industry's purchasing power is growing and its medium-term prospects point to a steadily upward trend," he added.
As MRC informed previously, in May 2016, PKN ORLEN signed a contract with Saudi Aramco for the supply of ca. 200 thousand tonnes of crude oil monthly to its refineries. The contract became effective from May 1st to December 31st 2016, with an option of automatic renewal for successive years. The oil will be processed by all PKN ORLEN's refineries in Poland, the Czech Republic and Lithuania.
PKN Orlen is a major Polish oil refiner and petrol retailer. The company is a significant European publicly traded firm with major operations in Poland, Czech Republic, Germany, and the Baltic States. It currently (2015) ranks 353, with a revenue of over USD33.8 billion.
MRC