PCC Rokita sees capex running at Zl100m per annum

06 July 2011 17:36  [Source: ICIS news]

LONDON (ICIS)--PCC Rokita’s capital expenditure (capex) strategy will see investments of up to zlotych (Zl) 100m ($36.5m, €25.3m) per annum made for several years ahead, the Polish chemical company said on Wednesday.

The commitment would aid the continuation of a capex programme that has seen Zl600m spent in the past five years, on initiatives including the construction of a 30,000 tonne/year ethoxylation plant at the company’s PCC Exol subsidiary in Plock.

PCC Rokita outlined its capex strategy while announcing the success of a two-year bond issue, drawn up to raise Zl15m to help fund projects including the completion of a project to eliminate mercury from its chlorine production. The issue, it said, was oversubscribed.

The company viewed the bond issue as something of a trial, and its success could lead to further issues, PCC Rokita added.

PCC Rokita, owned by Germany’s PCC chemicals, energy and logistics group, produces polyols, chlorobenzene, chlor-alkali, surfactants, phosphorous derivatives and napthalene derivatives.

($1 = Zl2.74, €1 = Zl3.95)

By: Will Conroy
+44 20 8652 3214

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