Basell Orlen Polyolefins – Polypropylene and Polyethylene Plants in Płock
Basell Orlen Polyolefins Sp. z o.o. (BOP) is a joint venture company established by Basell Europe Holdings B.V. and PKN ORLEN S.A., in which each partner holds a 50% stake. In the Płock Industrial and Technology Park, adjacent to PKN Orlen's production plant, the company built two new polyolefin plants: a polypropylene (PP) installation with a production capacity of 400,000 tonnes per year, based on Basell's Spheripol technology, and a high-density polyethylene (HDPE) installation with a capacity of 320,000 tonnes per year, using Hostalen technology. The combined annual output of the plants is approximately 870,000 tonnes of polyolefins. The project was valued at approximately EUR 500 million (around PLN 2 billion), making it one of the largest European investments in the petrochemical industry of that period. Construction began in the second half of 2003, and the installations were completed in 2005; the official inauguration of the plants took place on 17 November 2005. BOP is the largest producer of plastics and polyolefins in Poland.
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Timeline
- DeliveryNov 2005
Significance
The Basell Orlen Polyolefins plants made Poland a significant producer of polyolefins in the region and made BOP the country's largest producer of plastics. The new plants in Płock, with a combined capacity of around 870,000 tonnes of polypropylene and high-density polyethylene per year, integrated plastics production with PKN Orlen's petrochemical complex, using feedstock from the nearby production plant. The investment, valued at approximately EUR 500 million, was one of the largest European investments in the petrochemical industry in the mid-2000s.
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- PKN ORLEN S.A.Nov 2005
- opakowania.com.pl18 Nov 2005StatusStageCostDeliveryInvestorSchedule
Status · DeliveryBasell Orlen Polyolefins Sp. z o.o. (BOP), jedyny polski producent poliolefin oficjalnie zainaugurował działalność nowowybudowanych zakładów w Płocku.
StagePo ponad dwóch i pół roku wytężonej pracy i przygotowań, jedna z największych europejskich inwestycji w przemyśle petrochemicznym została pomyślnie ukończona.
CostProjekt o wartości około 500mln euro jest jednym z najnowoczesniejszych zakładów produkujących poliolefiny na świecie.
InvestorBOP jest spółką joint venture, utworzoną przez Basell Europe Holdings B.V. i PKN ORLEN S.A., w której każdy z partnerów ma 50% udziałów.
ScheduleOddany w terminie projekt BOP o wartości około 500 mln euro jest jednym z najnowocześniejszych zakładów produkujących poliolefiny na świecie.
- Parkiet4 Oct 2005
- inwestycje.plock.org.pl
- Funding
Fundingthe Arranging Banks have committed the financing to the Joint-Venture Company up to a total amount of EURO 350 millions consisting of: (i) an investment loan facility in a total amount up to EURO 320 million, for the purpose of, inter alia, financing expenses for construction of new polypropylene and polyethylene production plants; and (ii) a revolving working capital facility in a total amount of EURO 30 million
FundingPursuant to the above agreement, PKN ORLEN and BEH have undertaken to provide contingent equity to the Joint-Venture Company in the form of: (i) share capital increase, (ii) additional payment ("doplaty"), and (iii) a loan, subject to the cap and conditions provided in this agreement.