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Pulawy chemicals to spend PLN 2.2 bln on three investment projects by 2021

TAG'S: PULAWY, Services (other)

Chemicals firm Pulawy, unit of Grupa Azoty, will spend a total of PLN 2.2 bln until 2021 on its power plant project, an installation for mechanical granulation of fertilizers and expanding the installation for nitric acid production, the company said in press materials available ahead of a press conference.

Pulawy expect that the power block, to be ready in 2019, will generate PLN 1.6 bln annual revenue, the statement showed. The block will consume 0.5 bcm of natural gas annually.




Pulawy wants to build a financing model for the energy project yet this year and expects it will be 55-70% financed with debt. The firm will not seek an industry partner for the project, may only accept a financial one, Pulawy officials told a news conference.




The installation for mechanical granulation of fertilizers is also expected to be completed in 2019 and will cost some PLN 385 mln.




On May 25 Pulawy announced it secured its supervisory board's approval for a refashioned 400 MWe combined-cycle heat-and-power project estimated at PLN 1.125 bln and a PLN 695 mln investment in nitric acid installation.


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