Home / Knowledge / News / Textiles / PKN ORLEN ties up with EIB to fund PX & PTA units
PKN ORLEN ties up with EIB to fund PX & PTA units
03
Jan '08
Polski Koncern Naftowy ORLEN S.A. (PKN ORLEN) informs that on 21 December 2007, it signed a credit agreement (Agreement) with the European Investment Bank (EIB) in the amount of EUR 300 million, i.e. PLN 1 085.4, based on a EUR/PLN average exchange rate as of 21 December 2007, as quoted by the National Bank of Poland.

The Agreement has been signed for a twelve-year credit in the amount of EUR 300 million, i.e. PLN 1 085.4, based on a EUR/PLN average exchange rate as of 21 December 2007, as quoted by the National Bank of Poland. The aim of signing the Agreement by PKN ORLEN, is to assure the financial resources for the financing of part of the construction costs of the paraxylene (PX) and purified terephthalic acid (PTA) units.

In addition, on 25 June 2007 PKN ORLEN signed with the EIB a credit agreement in the amount of EUR 210 million, i.e. PLN 759.8, based on a EUR/PLN average exchange rate as of 21 December 2007, as quoted by the National Bank of Poland, on the financing of investments in connection with the development of the fuel sites network and environment protection.

On 21 December 2007 the total value of agreements signed between PKN ORLEN and the EIB amounted to EUR 510 million, i.e. PLN 1 845.18, based on a EUR/PLN average exchange rate as of 21 December 2007, as quoted by the National Bank of Poland.

In accordance with the “Regulation of the Minister of Finance dated 19 October 2005 on current and periodic information to be published by the issuers of securities”, the agreements signed by PKN ORLEN and the EIB in the last twelve months, constitute “significant agreements” due to the fact that their total value within the termination period exceeds 10% of PKN ORLEN's equity.

PKN ORLEN SA


Must ReadView All

Courtesy: BekaertDeslee

Textiles | On 23rd Oct 2017

BekaertDeslee to expand North American facility

BekaertDeslee, one of the largest manufacturer of mattress textiles...

Courtesy: A&E

Textiles | On 23rd Oct 2017

A&E unveils Magic using Repreve sewing thread

American & Efird (A&E), a leading developer of industrial and...

Courtesy: Messe Frankfurt

Textiles | On 23rd Oct 2017

Over 4,000 exhibitors attend Intertextile Shanghai 2017

Another successful Intertextile Shanghai Apparel Fabrics has wrapped...

Interviews View All

Poojaa Kumar Deepak
Zeven

Zeven's performance sports apparel is designed for the Indian body type,...

Rajiv Sirohi
Shara

‘Portugal is taking away a major share of the mill made sector.’

Kamlesh Vaghela
RK Textiles

Very few machinery manufacturers have R&D units

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 ...

Vikas Banduke

Softech Controls Private Limited (SCPL) is a part of the Cotmac Group, an...

Marten Alkhagen
Swerea IVF AB

Marten Alkhagen, Senior Scientist - Nonwoven and Technical Textiles of...

Kevin Nelson
TissueGen

Kevin Nelson, Chief Scientific Officer, TissueGen discusses the growing...

Steve Cole
Xerium Technologies

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

Mike Hoffman
Gildan Activewear SRL

Gildan Activewear, a manufacturer and marketer of branded clothing and...

Pranav Mishra
Huemn

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

Yash P. Kotak
Bombay Hemp Company

One of the directors of Bombay Hemp Company, Yash P. Kotak, speaks to...

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

October 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
76.1%
No
12.7%
Skip
11.3%

Total Votes: 71

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
62.0%
No
28.2%
Skip
9.9%

Total Votes: 71

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
85.9%
No
9.9%
Skip
4.2%

Total Votes: 71

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
76.1%
No
11.3%
Skip
12.7%

Total Votes: 71


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