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.
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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