PKN Orlen to deliver PTA to fellow Polish PET manufacturer

23 February 2011 19:02  [Source: ICIS news]

PRAGUE (ICIS)--PKN Orlen said on Wednesday it has agreed to deliver output from its new 600,000 tonne/year purified terephthalic acid (PTA) plant to a fellow Polish company, polyethylene terephthalate (PET) manufacturer SK Eurochem.

The agreement, concluded for an indefinite period, should be worth approximately zloty (Zl) 1.8bn ($620m, €453m) in its first five years, it added.

The technological start-up of the PTA plant was imminent, Orlen said.

Like Orlen's PTA plant, SK Eurochem's PET manufacturing facility is located in Wloclawek, near Plock in northern Poland. It has a capacity of 140,000 tonnes/year.

Last December, Thailand's Indorama Ventures (IVL) signed an agreement to acquire SK Eurochem from Korea-based SK Chemicals in order to consolidate its position in the emerging market of eastern Europe.

($1 = €0.73, Zl2.91; €1 = Zl3.97)

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By: Will Conroy
+44 20 8652 3214

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