Home / Knowledge / News / Textiles / Europe's biggest propylene plant to come up in Poland
Europe's biggest propylene plant to come up in Poland
02
Apr '16
State-controlled Grupa Azoty, one of Poland's largest plastics and fertiliser manufacturers, has announced that it will invest in a new propylene plant at its site in Police in the country's north-west.

The $450 million investment will create the largest such plant in Europe by 2019, and is the largest undertaking in the company's history, media reports said.

The investment, the largest in the company's history, will create Europe's biggest production plant for propylene, a critical chemical in the production of plastics and solvents, used in a range of products including car parts, carpets and toys.

Poland's Treasury Minister Wlodzimierz Karpinski told journalists in Warsaw, Friday, that the construction of the plant will create 1,000 jobs and an additional 200 jobs for highly qualified employees for the servicing of this investment.

The initial project for the plant was drafted 6 years ago, with Grupa Azoty deliberating a number of sites for the investment. The new plant is capable of producing 400,000 tonnes of propylene a year and will begin production in 2019. This is expected to increase the Warsaw-listed company's annual revenue by 20 per cent to $3.2bn. Currently, around 150,000 metric tonnes of propylene are processed in Poland annually.

Grupa Azoty is one of only a handful of Polish business giants that has managed to turn national dominance into international clout, amid long-overdue efforts by the country's government to encourage overseas expansion and investment in new business areas among its largest corporates.

Pawel Jarczewski, the company's chief executive, said the investment was of “historical magnitude”.

Europe is estimated to have a deficit of about 1,000 tonnes of propylene per year. The plant, to be built in Police on Poland's northern Baltic coast, will export 60 per cent of its production, the company said.

The investment is part of Grupa Azoty's planned $2 billion capital expenditure push between now and 2020 and is expected to be funded by new financing. (SH)

Fibre2Fashion News Desk – India

Must ReadView All

Apparel/Garments | On 5th Dec 2016

EC proposes new tax rules to support e-commerce in EU

The European Commission (EC) has unveiled a series of measures to...

Apparel/Garments | On 5th Dec 2016

Traders to intensify adoption of digital payments

Adoption of digital payments in their existing business format would...

Textiles | On 5th Dec 2016

US textile & apparel exports down 6.44% in Jan-Sept ’16

The exports of textile and apparel from United States were down 6.44...

Interviews View All

Sanjay Desai & Ashish Mulani
True Colors

Digital textile printing will be the technology of the future

Priyanka
Studio Priyanka Rajiv

‘To reinvent the age-old tradition of embroidery to suit demographics and...

Cyril Pereira
Reed Exhibitions India, organiser of Asian Machine Tool Exhibition 2016

'Major problem in the textile machinery manufacturing industry is the lack ...

Lynda Kelly
Suominen Corporation

Suominen Corporation is a manufacturer of nonwovens as roll goods for...

Johan Berlin
InvestKonsult Sweden AB

Investkonsult Sweden AB has been buying and selling second-hand textile...

Steve Cole
Xerium Technologies

Steve Cole of Xerium Technologies discusses the industry. Xerium is the...

Pranav Mishra
Huemn

Designers Pranav Mishra and Shyma Shetty’s Huemn is known for its...

Rupa Sood and Sharan Apparao
Nayaab

Nayaab, an exhibition meant to celebrate Indian weaves, is in its second...

Wendell Rodricks
Wendell Rodricks

"We should not compare India and the West. There are things we do that...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH
December 2016

December 2016

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

SUBSCRIBE


Browse Our Archives

GO


Advanced Search