Poland’s ZAK commits to €40m+ 2014 capex, investing in plasticizers

20 December 2013 12:20 Source:ICIS News

LONDON (ICIS)--Poland's Zaklady Azotowe Kedzierzyn (ZAK) has set a 2014 capital expenditure budget of zloty (Zl) 180m ($59m, €43m) to cover investments including the construction of a phthalate-free plasticizers plant, the company said on Friday.

ZAK, the sole Polish producer of oxo-alcohols and plasticisers, which already makes dioctyl phthalate (DOP) plasticisers at its production complex in Kedzierzyn-Kozle, southern Poland, intended to also produce dioctyl terephthalate (DOTP) plasticizers, it added.

The installation, set to start commercial production in 2015, was likely to have a capacity of 50,000 tonnes/year, ZAK added.

ZAK, also a nitrogen fertilizer producer, would also allocate some of the budgeted capex to modernising its urea production to meet higher environmental requirements and on works required on the cooling system of its ammonia unit, the company said.

Further capex would be spent on the initial stages of constructing a new company power plant, it added.

ZAK did not specify the precise capex allocations for each investment project.

The company is a subsidiary of state-controlled Grupa Azoty, Poland's largest chemical group and Europe’s second largest fertilizer producer.

($1 =  €0.73, $1 = Zl3.05, €1 = Zl4.16)

By Tom Brown