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

Sri Lanka to set up 150 mini apparel units

Apparel/Garments | On 23rd Nov 2017

Sri Lanka to set up 150 mini apparel units

A mini apparel factory was opened recently at Sri Lanka’s Menik Farm...

Egypt keen to boost ties with India in MSMEs, textiles

Textiles | On 23rd Nov 2017

Egypt keen to boost ties with India in MSMEs, textiles

Egypt is eager to boost cooperation with India, particularly in the...

India begins review of anti-dumping duty on caustic soda

Textiles | On 23rd Nov 2017

India begins review of anti-dumping duty on caustic soda

The Directorate General of Anti-Dumping & Allied Duties (DGAD), under ...

Interviews View All

Sanjay Desai & Ashish Mulani
True Colors

Digital textile printing will be the technology of the future

Smita Murarka
Amanté

‘There is huge demand in the Indian lingerie market for non-wired styles.’

Manfred Mentges
Sedo Treepoint GmbH

We see a higher demand in colour management systems, as customers see big...

Rikesh Mistry

Jupiter Comtex Pvt Ltd, established in 1973, started its textile machinery ...

Harmeet Singh

New Delhi-based Jogindra Industries Private Limited provides an assortment ...

Sugandha Bhardwaj

<div>New Delhi-based Brinjal Designs Pvt Ltd manufactures home furnishing...

Larry L Kinn
Suominen Corporation

Larry L Kinn, Senior Vice President - Operations Americas of Suominen...

Johan Berlin
InvestKonsult Sweden AB

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

Eamonn Tighe
Nature Works LLC

Eamonn Tighe, Fibres and Nonwovens - Business Development Manager of...

Judy Frater
Somaiya Kala Vidya

Among the many honours showered on Frater, including Fulbright and Ford...

Tony Ward
Tony Ward

"You have to truly understand what your client wants, know her needs, what ...

Akta Adani
India Boulevard

India Boulevard is a San Francisco-based curated fashion marketplace 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

November 2017

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

news category


Related Categories:

Planning to Take the Leap towards
Sustainability?

Do you see sustainability as a route to business growth?

Yes No

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes No

Active Poll

Do you see sustainability as a route to business growth?

Yes
68.5%
No
12.4%
Skip
19.1%

Total Votes: 89

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes No

Active Poll

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes
61.8%
No
30.3%
Skip
7.9%

Total Votes: 89

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes No

Active Poll

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes
86.5%
No
10.1%
Skip
3.4%

Total Votes: 89

Thanks for your valuable feedback. Claim your free latest sustainability e-book.

Active Poll

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes
80.9%
No
9.0%
Skip
10.1%

Total Votes: 89


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search