PKN ORLEN S.A. (“Company”) hereby informs that on 12 June 2018 the Company’s Management Board approved the program of petrochemical segment development by 2023 (“Program”), which will be a ground for the update of the Company’s strategy in the area of petrochemical assets development.
The estimated budget necessary for realization of investments constituting the Program, in the amount of ca. PLN 8,3 bn, will be provided in the Company’s middle-term financial plan that is now being prepared. The estimated annual increase of PKN ORLEN S.A. EBITDA after finalization of the investments included in the Program may amount to ca. PLN 1,5 bn.
The Program of petrochemical segment development approved today, assumes realization of three key investments:
- building of Aromatics Compound complex
- development of Olefins complex
- development of Phenol capacity
which will be supported by extension of research and development facilities, necessary for its realization.