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PKN ORLEN to launch largest petrochemical investment project in Europe

PKN ORLEN is investing in the expansion of the Olefins Complex at the Płock Production Plant. It is the key project in the strategic Petrochemical Development Programme and the largest petrochemical investment project in Europe in the last 20 years.

The Olefins III Complex will be built using state-of-the-art technologies to ensure, among others, greater energy efficiency, including a 30 per cent reduction of CO2 emissions per tonne of the product. In view of the rising CO2 prices, this will directly improve the competitiveness of the Production Plant. The project is scheduled for completion in the first quarter of 2024 and the production launch is planned for early 2025.

The petrochemical products manufactured in the Olefins Complex will be the basis for producing all kinds of everyday items, such as cleaning, hygiene and medical products, as well as synthetic fibres for the production of protective clothing and masks. They will also be used to produce car parts, components of household appliances and electronic devices.

“This is an important moment for PKN ORLEN and the Polish petrochemical industry,” said Daniel Obajtek, CEO and President of the PKN ORLEN Management Board. “We are taking a major step towards significantly expanding the petrochemical segment at the Płock Production Plant, which – once the Olefins III Complex is completed – will be one of the most modern facilities of this type in Europe. With this project on-stream, PKN ORLEN will join the top petrochemical producers in the European market. It will also secure its competitiveness in the long run and increase its resistance to unfavourable mega-trends in the fuel market. Importantly, the project fits with the merger of Orlen and Lotos, which will supply significant volumes of kerosene to the Olefins. Petrochemicals have a huge potential. We want to harness it to deliver maximum value, in response to the steadily growing demand for high-margin petrochemical products. This will benefit the Group companies, our shareholders and the Polish economy, which will become even more competitive.”

The expansion of the Olefins Complex at the Płock Production Plant is part of the ORLEN2030 strategy, which assumes that PKN ORLEN will achieve carbon neutrality by 2050. In furtherance of this goal, the company aims to reduce carbon emissions from its existing refinery and petrochemical assets by 20 per cent and cut down carbon emissions per megawatt-hour of electricity by 33 per cent by 2030.
 

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