Award for Basell Orlen Polyolefins
The award was given for the project financing for the construction of new sites manufacturing polyethylene and polypropylene. The overall size of the project is approximately EUR 500 million.
Project Finance magazine awarded Basell Orlen Polyolefins its “European Petrochemical Deal of Year 2003” at an awards ceremony in London.
“The deal comes during a quiet period for energy financing in the region and is a rarity for mainland Europe,” reported Project Finance magazine in its February issue.
The award was given for the project financing for the construction of new sites manufacturing polyethylene and polypropylene. The overall size of the project is approximately EUR 500 million. The investment is considered among the biggest in the Polish petrochemical industry and one of the largest among different industry sectors according to Polish government statistics. The uniqueness of the project lies in the fact that this “twin” facility for polyethylene and polypropylene is being built from “the ground up” simultaneously.
“Once operational, these new plants are expected to significantly increase plastics production in the country and future plastics sector development in Poland,” said Hartmut Lueker, president and general director of Basell Orlen Polyolefins.
Basell Orlen Polyolefins is a joint venture company between Basell Europe Holdings B.V. and PKN ORLEN, with each holding 50 percent share. Basell develops, produces and markets polypropylene and advanced polyolefin products, and is a leader in their development and licensing processes and catalysts. PKN ORLEN S.A. is one of the largest companies in Central Europe, and is Poland’s largest petrochemical producer and refiner of crude oil and marketer of world-class petroleum and related products.
For more information contact:
Elżbieta Plichta +48 22 875 07 92, ext. 124 or
malgorzata.lesniak@basellorlen.pl,