PKN ORLEN, a Polish oil company, has announced plans to invest in the construction of a Hydrotreated Vegetable Oils (HVO) unit in its production plant in Plock. The unit will have an annual production capacity of 300,000 tonnes of biodiesel or aviation biofuel and is estimated to cost around PLN 600 million (€135 million). The investment is expected to be completed by mid-2024. The company's management board has also given consent to sign an agreement with Technik Polska for the construction of the HVO unit. The investment is subject to approval from the company's supervisory board.
PKN ORLEN S.A. (“Company”) discloses the following inside information, publication of which was delayed on 27 September 2021:
“PKN ORLEN (“Company”) informs that on 27 September 2021 the Company’s Management Board gave consent for realization of the investment – building of HVO (Hydrotreated Vegetable Oils) unit in the Production Plant in Plock (“Investment”). The annual production capacity of the unit will amount to 300 th tonnes of biodiesel or aviation biofuel. Total cost of the investment is estimated at the level of ca. PLN 600 m. (135 m Euro) The completion of the investment and start of the production is planned for the mid-2024.
The Company’s Management Board gave also consent to sign with Technik Polska Sp. z o.o. an agreement for building the HVO unit in EPC formula for ISBL.
Realization of the Investment requires approval of the Company’s Supervisory Board that PKN ORLEN Management Board requested for today.”