Polish energy company ORLEN Group has announced that it will increase the scale of the Olefins Complex expansion at the company’s petrochemical production plant in Płock (29 June).
The expansion of the Olefin Complex will create around 650 new jobs and will cut CO2 emissions by around 30 per cent per tonne of product, ORLEN said in a press release.
“Global trends indicate that the demand for high-margin petrochemical products will grow dynamically. By 2050, the value of the market for petrochemicals and base plastics has the potential to double. At the same time, over the next 10 years, the processing of crude oil into traditional fuels will gradually decrease. We carefully analyse these changes and intensify our activities in order to have the largest possible share in the petrochemical business and quickly increase the revenue generated by this segment. That is why we are expanding the scope of works related to the extension of the Olefin Complex. We will modernise the entire existing accompanying infrastructure to make our complex the most modern and ecological in Europe. In this way, we will strengthen our position as a regional leader in petrochemical production,” said Daniel Obajtek, President of the Management Board of ORLEN.
25 billion złotych (5.6 billion euros) will be allocated for the project, which will be carried out by Polish subcontractors.
Petrochemical products manufactured in the Olefins Complex will serve as the basis for more advanced plastics, used in the production of everyday items such as cleaning and hygiene products, medical items, as well as synthetic fibres for clothing or protective masks. They will also be used in car parts, home appliances, and electronic devices, ORLEN said.
The new investment will also leverage the synergies resulting from ORLEN’s merger with Grupa Lotos. The Gdańsk plant will supply a significant volume of naphtha for olefin production. In turn, olefins will be one of the raw materials necessary for the production of LDPE polyethylene, which is used to manufacture films, bags, canisters, and food packaging.
Last year, ORLEN took over part of the business associated with the production and sale of LDPE polyethylene, owned by Basell Orlen Polyolefins, in which it is a shareholder.
