Information on Olefins III complex development

ORLEN S.A. („Company”) announces that on 6 November 2024 the Company’s Management Board decided it will concentrate further analysis on selected strategic options of Olefins III complex development (“Project”).

Following strategic options are subject to thorough analysis:

•    Optimization of the Project with respect to output capacity and utilization of currently existing units.

•    Termination of the Project in its current form or its temporary, partial suspension.

Continuation of the Project with the current scope and scale (described in regulatory announcements no 26/2021 and 27/2021 as of 24 May 2021, no 34/2021 as of 22 June 2021, no 30/2023 as of 29 June 2023) is unprofitable. The capital expenditures and project-related costs for the Project realization would amount to ca. PLN 45-51 bn. Completion of the construction works would be feasible no sooner than at the beginning of 2030. Those have been assessed by external, reputable advisors, based on the current scope and scale and include all required infrastructure, procurement contracts’ conditions, macroeconomic and market outlook. 

Selection of the strategic options has been made to safeguard the Company’s interest and is made on the basis of petrochemical market analysis, macroeconomic situation and Project profitability.