PKN ORLEN (“Company”) informs that on 22 June 2021 it signed the agreement for building of Olefins III unit complex (“Investment”) in EPCC formula (Engineering, Procurement, Construction and Commissioning) for ISBL with the companies: Hyundai Engineering Co., Ltd. headquartered in Seoul and Técnicas Reunidas S.A. headquartered in Madrid.
The Investment is a part of Petrochemical segment development program, announced by the Company on 12 June 2018. Total cost of the Investment is estimated at the level of ca. PLN 13,5 bn. Closing of the building phase of the investment is planned for the first quarter 2024 and start of production at the Olefins III Complex for the beginning of 2025. The Company estimates that realization of the investment would increase EBITDA by ca. PLN 1 bn annually.
See also: regulatory announcement no 27/2021 as of 24 May 2021, no 26/2021 as of 24 May 2021, no 69/2018 as of 12 June 2018.