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

US merchandise trade with India, 2012–16; Courtesy: USITC

Textiles | On 27th Jul 2017

India becomes US’ 9th largest trading partner in 2016

In 2016, India became the United States’ 9th-largest single-country...

Textiles | On 27th Jul 2017

GST will lead to further increase of MMF prices

The Goods & Services Tax (GST) rolled out on July 1, 2017 is not...

Textiles | On 27th Jul 2017

Global yarn production improved 30% q-o-q in Q1: ITMF

In the first quarter of 2017, global yarn production rose by almost...

Interviews View All

Yashiki Gumber
Sahiba Fabrics

Fabric does not restrict us from fashion trends

Frank Gossmann
Rotorcraft AG

‘RT3 motto is: Do not check millimetres, check colours.’

Rahul Bhadani
Looksgud

Navigating through catalogues is a bit hasslesome

Johan Berlin
InvestKonsult Sweden AB

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

Mark Paterson
Technical Absorbents Ltd

Mark Paterson, R&D manager of Technical Absorbents Ltd talks about Super...

Eamonn Tighe
Nature Works LLC

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

Pranav Mishra
Huemn

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

Prathyusha Garimella
Prathyusha Garimella

Hyderabad-based designer <b>Prathyusha Garimella</b> is known for blending ...

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

July 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

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

Yes No

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

Yes No

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


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



X