PKN Orlen announces five-year growth plan

PKN Orlen has announced a five-year growth plan. Orlen has set aside Polish Zloty 5.8 bln (US$2.4 bln) for capital investment in petrochemicals during 2008-2012. The company plans to spend a further Polish Zloty 1.7 bln in its chemicals segment over that period. The plan includes expansion at the company's petrochemical production plants in Poland and the Czech Republic, as well as the construction of a propylene splitter at its Lithuanian subsidiary Mazeikiu Nafta. Orlen is also considering the development of a third olefins complex at Plock, Poland; a cyclohexanone manufacturing plant at its subsidiary Spolana's complex in Neratovice, Czech Republic; and a polybutylene terephthalate facility at its subsidiary Anwil's site in Wloclawek, Poland. Further, Olen intends to actively participate in Poland's MandA sector. It has stated its interest in purchasing majority shares in ZA Tarnow and ZA Kedzierzyn. Orlen's largest petrochemical projects include a purified terephthalic acid (PTA) facility, with a capacity of 600,000 tpa at Wloclawek; and a 400,000 tpa paraxylene unit at Plock. Completion of the PTA plant is slated by Oct 2010.
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