ZAP signs $300m gas deal with Air Liquide Polska

25 June 2008 16:57  [Source: ICIS news]

PRAGUE (ICIS news)--Poland's Zaklady Azotowe Pulawy (ZAP) said on Wednesday it has signed a hydrogen and nitrogen contract with Air Liquide Polska valued at zlotys (Zl) 680m (€202.5m/$315.9m).

 

The melamine, caprolactam and nitrogen fertilizer producer would receive the supplies over 15 years, starting 2010.

 

ZAP said the contract included provisions stipulating Air Liquide Polska would build and operate an air separation installation and supply it with 254m standard cubic metres (Nm3) of hydrogen and 35m Nm3 of nitrogen yearly.

 

It added the new site would replace its current hydrogen blocks and would be brought online according to a schedule allowing production continuity and a subsequent increase in urea production.

 

On Monday, Wood & Company investment bank hailed ZAP as Poland's largest chemical production firm by market capitalisation and advised that it may go ahead with a takeover bid for the largest Polish base chemicals supplier Ciech.

 

($1 = €0.64, $1 = Zl2.15)

By: Will Conroy
+44 20 8652 3214

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