03 July 2013 15:52 [Source: ICIS news]
LONDON (ICIS)--Polish refiner Grupa Lotos may split its envisaged petrochemical complex between northern and southern Poland, the company said on Wednesday.
The project could be rolled out both next to Lotos’ refinery in the Baltic Sea coast city of Gdansk and in the southern Polish location of Tarnow, home to Lotos’ proposed joint-venture partner for the investment, Polish chemical group Grupa Azoty, it added.
State-controlled entities Lotos and Grupa Azoty hope the complex could eventually produce approximately 1m tonnes/year of petrochemical products, with the first output pencilled in for 2017.
An on-going feasibility study is looking at the potential for a complex centred around an ethylene cracker versus the potential for one based on an aromatics extraction plant.
Grupa Azoty would be the main customer for whatever output was produced by its installations, Lotos said.
Looking at the possible scope of the latest plans for the complex, investment bank WOOD & Company said the investment could be worth anywhere between $1.5bn (€1.2bn) and $3bn.
($1 = €0.77)
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