The European Investment Bank (EIB) is lending EUR 300 million to Polski Koncern Naftowy (PKN) Orlen SA for the construction of a new aromatics complex that will produce chemical intermediates for the production of polyesters utilised in the textile industry and of polyethylene terephthalate (PET) resins used in the packaging industry, e.g. for the production of soft recyclable bottles.
The EIB loan will finance part of the the construction cost of a plant that will produce 400 000 tonnes of para-xylene per year, located at the PKN Orlen’s existing refinery and petrochemical complex in Płock (Mazovieckie voivodship), as well as part of the cost of a plant producing 600 000 tonnes of purified terephthalic acid per year, located in Włocławek, some 55 km from Płock (Kujawsko-Pomorskie voivodship).
The operation of the new production plants will create some 200 new job opportunities in these areas, which are facing a 16% unemployment rate ― above Poland’s average. The new production facilities will contribute to increasing the amount of processed crude oil by approximately 500 000 tonnes yearly, while adapting at the same time to a shift in demand from gasoline to diesel in the region.
Background:
The mission of the EIB, the European Union’s long-term financing institution, is to contribute towards the integration, balanced development and economic and social cohesion of the Member States by financing sound investment.
In Poland, as in the other EU Member States, the European Investment Bank supports investment projects in order to reduce regional development disparities, strengthen economic competitiveness and improve people’s living standards and quality of life. Since 1990, the Bank has provided funds exceeding EUR 15 billion to projects promoting European objectives in Poland.