Grupa Azoty Polyolefins

Grupa Azoty Polyolefins signed commitment letters with 11 financial institutions for a $1.075 billion senior loan to finance the Polimery Police project, a polyolefins plant in Police, Poland. Total project budget is $1.795 billion.

Grupa Azoty Polyolefins passed a resolution to increase its share capital by nearly 132 mln zloty through a share issue, subscribed by Grupa Azoty and Grupa Azoty Zaklady Chemiczne Police, to fund the Polimery Police polypropylene plant project.

Grupa Azoty Polyolefins handed over the construction site to Hyundai Engineering for the Polimery Police project, a polypropylene and propylene production complex in Police, Poland. The first permit covers the terminal area.

Grupa Azoty Polyolefins issued a full notice to proceed to Hyundai Engineering for the EPC contract of the Polimery Police petrochemical complex in Police, Poland. The project includes a PDH unit and a polypropylene plant with a combined capacity of 400,000 tonnes per year each.

Grupa Azoty Polyolefins issued a Full Notice to Proceed to Hyundai Engineering for the Polimery Police project. Construction will begin in January 2020, with test startup of the polypropylene installation expected in Q2 2022.

Grupa Azoty and Grupa Lotos signed a binding agreement for Grupa Lotos to invest 500 million PLN in the Polimery Police petrochemical project. The investment includes up to 300 million PLN in equity and up to 200 million PLN in a subordinated loan.

Grupa Lotos is negotiating to take shares in Grupa Azoty Polyolefins, providing up to 500 million zł in capital financing for the Polimery Police polypropylene project in Police, Poland. The talks are at an advanced stage.