Poland’s ZAT to invest $311m in new projects

20 August 2008 13:21  [Source: ICIS news]

PRAGUE (ICIS news)--Poland's Zaklady Azotowe Tarnow (ZAT) is investing zlotys (Zl) 700m ($311m/€211m) to build new plants including a polyamide II production facility and modernise existing units by 2011, it said on Wednesday.

The company would spend Zl175m to build the 55,000 tonne/year polyamide II facility, work on which would begin this autumn, it added.

ZAT said that it would focus on modern construction plastics and expected to generate 85% of its revenue from polymer and polymer derivative products.

State-held ZAT, which is undergoing privatisation, also planned to develop and modernise its caprolactam plant and together with the construction of a new hydrogen plant, this should cost around Zl140m, it said.

The investment plan also included the construction of a new polyoxymethylene production project, which would cost around Zl300m and ZAT said it planned to establish a joint venture with a Chinese partner for this purpose.

(€1=Zl3.32, $1=Zl2.25)  

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