Poland's Grupa Azoty to invest in new propylene plant at its site in Police

04-Apr-16
State-controlled Grupa Azoty, one of Poland's largest plastics and fertiliser manufacturers, has announced that it will invest in a new propylene plant at its site in Police in the country's north-west, as per fibre2fashion.com. The US$450 mln investment will create the largest such plant in Europe by 2019, and is the largest undertaking in the company's history, media reports said. The investment, the largest in the company's history, will create Europe's biggest production plant for propylene. The initial project for the plant was drafted 6 years ago, with Grupa Azoty deliberating a number of sites for the investment. The new plant is capable of producing 400,000 tpa of propylene and will begin production in 2019. This is expected to increase the Warsaw-listed company's annual revenue by 20% to US$3.2 bln. Currently, around 150,000 metric tons of propylene are processed in Poland annually.
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