Poland’s Lotos, ZAT sign cooperation deal for petchem complex

23 November 2012 18:02  [Source: ICIS news]

LONDON (ICIS)--Poland-based refiner Grupa Lotos and chemical group Zaklady Azoty Tarnow (ZAT) have signed a cooperation agreement for a pre-feasibility study on the construction of a petrochemical complex, the companies said on Friday.

The overall investment committed to the manufacturing site, which would potentially start production by late 2017 or early 2018, could be as much as Polish zlotych  (Zl) 6bn ($1.9bn, €1.5bn), they added.

On Thursday, a Lotos source told ICIS News that the joint-venture project, to be built in the Baltic port city of Gdansk, could feature Poland’s first industrial-scale methanol plant.

Other production at the complex would likely be initially focused on caprolactam (capro) and polyamide 6 (or nylon 6) or polyoxymethylene (POM), he said.

Financing could be provided by the government's Inwestycje Polskie (Invest in Poland) agency, he added.

Lotos, which like ZAT is state-controlled, made its first move into petrochemical production in July, when it launched a 120,000 tonne/year mixed xylenes (MX) plant.

The ZAT group is a producer of fertilizers, capro, polyamide 6 plasticizers, titanium dioxide (TiO2) and oxo-alcohols

($1 = €0.78, $1 = Zl3.19, €1 = Zl4.10bn).

By: Will Conroy
+44 20 8652 3214

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