Polish oil refiner PKN Orlen to invest billions

Poland’s biggest oil refiner, state-run PKN Orlen, will plough PLN 8.3 billion (EUR 1.94 bn, USD 2.29 bn) by 2023 into a development programme that will turn the firm from an importer into an exporter, according to a report.

Orlen CEO Daniel Obajtek has said the move is a strategic decision for the Polish economy as well as for the company, public broadcaster Polish Radio’s IAR news agency reported on Tuesday.

The programme will be the largest investment in the company’s history and will focus on production facilities in Płock and Włocławek, central Poland, the agency said.

Orlen will unveil plans for financing the programme by the end of the year, IAR added.

Source: www.thenews.pl