Polski Koncern Naftowy ORLEN S.A. ("PKN ORLEN") hereby informs that on 1 August 2016 it signed an agreement with ELEKTROBUDOWA SA for design, deliveries and building “in turn key” formula a metathesis installation at the production plant in Plock (“Agreement”). Estimated net value of the Agreement amounts to ca. PLN 250 million and it consists of ca. PLN 130 million and ca. EUR 26 million after recalculating with the Narodowy Bank Polski average exchange rate from 29.07.2016.
Building of the metathesis installation is one of the key development projects in petrochemical segment of PKN ORLEN S.A. and its aim is to increase propylene production at the Plock plant by 100 thousand tons per year resulting in the level of 550 thousand tons. Completion of the building and start-up of the unit is planned in the second half of 2018.
See also: regulatory announcement no 199/2016 dated 21 July 2016.