13 April 2012 17:08 [Source: ICIS news]
LONDON (ICIS)--Slovnaft has awarded Italy-based Maire Tecnimont Group a €204m ($268m) contract to deliver technology to the petrochemical producer's planned new low density polyethylene (LDPE) plant in Bratislava, the Slovak-based firm said on Friday.
The contract for the 220,000 tonne/year 'LDPE 4' plant would be fulfilled by Italy-based petrochemical contractor Tecnimont and subsidiary Tecnimont Planung and Industrieanlagenbau (TPI), based in ?xml:namespace>
The new plant is part of a €300m investment programme by Slovnaft. With the installation of LDPE 4, Slovnaft said it will replace its existing seven LDPE lines and increase its polymers production by 42,000 tonnes/year to 220,000 tonnes/year.
The construction of LDPE 4 will start in 2013, while its launch is planned for 2015, the company said.
“The new production unit is based on the most modern and best available technologies. In addition to a significant increase of quality of produced polyethylene the new polyethylene unit will positively influence the reduction of power consumption," said Peter Chmurciak, the director of the Slovnaft Petrochemicals subsidiary, in a press release.
"And in the field of environmental protection it will significantly reduce emissions of dangerous substances in accordance with EU legislation from 2016,“ Chmurciak added.
LDPE 4 will be able to produce nearly 30 types of polyethylene, expanding Slovnaft's product portfolio to allow it to address new customers and expand to new markets within the EU, the company said.
Maire Tecnimont is an international player in engineering, main contracting and technology licensing in the oil, gas and petrochemical industries. Present in more than 30 countries, the group achieved sales of €2.6bn in 2011.
($1 = €0.76)
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