14 November 2005 17:16 [Source: ICIS news]
LONDON (ICIS news)--PKN Orlen is planning to invest Zloty2.3bn ($667.8m/Euro570m) in a new integrated polyester chain complex, the Polish oil and petrochemicals major said on Monday.
The proposed project, which is scheduled for completion in 2009, would include a 400,000 tonne/year paraxylene (PX) plant and a 600,000 tonne/year purified terephthalic acid (PTA) unit.
The PX plant will be built at the company’s ?xml:namespace>
It would also include an 80,000 tonne/year benzene unit, a 40,000 tonne/year orthoxylene (OX) plant and would increase crude processing capacity by about 400,000-500,000 tonne/year.
The company said these new facilities had a value creation potential, as it would allow it to enter the expanding polyesters market through the sale of mono ethylene glycol (MEG) and PX to PET producers. PKN Orlen said it would maximise its operations through utilisation of current production units.
It would also allow the company to react to expected market changes, such as the decline in the use of gasoline and rise of diesel consumption as well as the decrease of aromatics in fuel products.
PKN Orlen added that higher than ever growth for petrochemical products was expected in
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