PKN ORLEN (“Company”) hereby informs that on 5 February 2020, as a part of investment project called: “Visbreaking Installation at production plant in Plock”, it signed an agreement with consortium of companies: KTI Poland S.A. and IDS-BUD S.A. for design, deliveries and building “in turn key” formula of the Visbreaking Basic Installation for a total amount of ca. PLN 750 m.
The project's implementation aims to improve crude oil production efficiency by increasing the yield of high-margin products as a result of in-depth conversion of vacuum residue from the Crude Distillation Unit.
The cost of investment will amount to ca. PLN 1 bn.
The finalization of the investment is planned by the end of 2022.
After realization of the project it is estimated that the operating profit EBITDA of PKN ORLEN may increase in the range of PLN 340 to 415 m yearly.
See also regulatory announcements: no 6/2020 dated 5 February 2020, no 42/2019 dated 28 November 2019 and no 41/2019 dated 28 November 2019.