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A contract was signed for comprehensive implementation of the “turnkey” formula of the strategic investment of Polimery Police.
Hyundai Engineering selected as the contractor
PDH Polska, whose shareholders are Grupa Azoty and Grupa Azoty Police, has signed an agreement for comprehensive implementation of the investment project of the Polimery Police petrochemical complex. The contractor for the investment will be the Korean company Hyundai Engineering. The total budget is estimated at approximately €1.5bn, of which €1.2bn will be capital expenditure. The contractor’s remuneration is to amount to €992.8m and will be paid in installments after the completion and acceptance of subsequent stages of the project.
In August 2019, the signing of loan agreements is planned, which will allow the commencement of earthworks and construction works. The commencement of the project construction is planned for the first quarter of 2020, and the commissioning of the installation for 2022.
New petrochemical complex
The investment of Polimery Police, the first in Poland petrochemical complex producing polypropylene, will consist of five sub-projects. Among them there will be a propane dehydrogenation installation (PDH installation), a polypropylene production installation (PP installation) and an auxiliary installation. A system of packaging, storage, logistics and forwarding of polypropylene and a transshipment and storage terminal will also be built.
The planned capacity of the PDH installation is to amount to 429 thousand tonnes per year of propylene with a purity of 99.6%. The PP unit is to have a capacity of 437,000 tonnes per year of polypropylene.