PKN Orlen fuel giant announces Europe’s largest petrochemical investment

The Olefin III installation, which will be built at the PKN Orlen refinery near the central town of Plock, will come with a price tag of about PLN 13.5 billion (EUR 3 billion), Orlen’s CEO announced. The plant will cover an area of 100 hectares, and will provide jobs for 10,000 people.

PKN Orlen expects a PLN 1 billion (EUR 223 million) boost to annual EBITDA from the project.

“Today is the day of the largest (petrochemical – PAP) investment of the 21st century in Europe, Daniel Obajtek told a Monday press conference.

Construction should be finished by 2024, while production is scheduled to start in 2025.

“The investment will balance imports and provide security in many petrochemical industries… and will provide us with stability, including price stability,” Obajtek said.

The investment is a part of the company’s development programme announced in 2018. 

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