| Project Detail |
Provision of a multicurrency senior loan of up to EUR 125 million equivalent in support of Grupa Azoty Polyolefins S.A. ("PDHP"), a subsidiary of Grupa Azoty Zaklady Chemiczne "Police" S.A. ("GA Police") and Grupa Azoty S.A. ("Grupa Azoty"), which is considering the construction and operation of an integrated propane dehydrogenation unit ("PDH") and polypropylene unit ("PP") to manufacture propylene and polypropylene. The facilities will be located in the town of Police, adjacent to the existing facilities of GA Police and will have access to its utilities and infrastructure.
Project Objectives
The project will diversify Grupa Azotys business by improving the efficiency of its operations as well as expanding the product range. The latter is being addressed by adding new products allowing the Group to diversify away from the fertiliser business.
Transition Impact
The project is expected to diversify the Groups business and lower its reliance from the fertiliser business by entering into higher-margin and more value-added polymer products. This will enable the Group to become more resilient to the fertilizer sectors cyclicality. The process technology proposed in the project is highly innovative, being the second application in the EU (first in EBRD countries of operations). The main facilities of the project will be designed on the basis of best-in-class technologies with a good track record of operations provided by renowned licensors. The selected PDH technology was based on lower emissions and higher energy efficiency compared to cracking technologies.
Client Information
GRUPA AZOTY POLYOLEFINS SA
PDHP is a subsidiary of Grupa Azoty and GA Police established to implement an integrated petrochemical complex consisting of propylene (based on propane dehydrogenation/PDH technology) and polypropylene production facilities.
EBRD Finance Summary
USD 137,524,992.00
The EBRD to provide up to EUR 125 million equivalent multicurrency senior loan with the proceeds to be used to finance the construction of the PDH Unit and associated contingencies.
Total Project Cost
USD 1,792,000,000.00 |
