The president, in Police (north-western Poland), described the investment planned by the Azoty Group, a leading European fertiliser and chemical manufacturer, "as unbelievably large and fund consuming, but also meeting global standards." Duda said that when talking about an investment of up to EUR 2 billion, the problem of funding closure becomes "serious."
President Duda admitted that this goal had been accomplished in the case of this large investment. "The mechanism, which has been created, has made it possible to implement a project worth PLN 7 billion (EUR 1.6 billion). (...) it is twice as much as the cost of the gas terminal in Swinousjcie (north-western Poland)," he stated.
The president said that when ready, the plant with annual production capacity to reach nearly half a million tonnes of polypropylene will not only fully meet Poland's but also partially Europe's and the world's demand for thermoplastic polymer.
He added that the investment will generate an additional 400 jobs at the plant plus some 1,200 jobs in cooperating companies.
The project is the biggest investment undertaking in Azoty Group's history. The general contractor of the project is South Korean company Hyundai Engineering. According to plans, production at the plant is be launched in the fourth quarter of 2022.
The Polimery Police integrated chemical complex will comprise propylene and polypropylene production units, a storage and handling terminal, and logistics infrastructure.
All installations have been designed under US licences. The new plant will also be producing some 17,000 tonnes of hydrogen, which will be sold to the nearby Police chemical plant producing ammonia. The complex will also have a gas terminal. (PAP)
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