“Orlen Lietuva” starts with 641 mln. Euro value for modernization
AB Orlen Lietuva logo. Photo of Judita GrigelytÄ— (V).
Orlen Lithuania, the only oil refining and import plant in the Baltic states, managed by the Polish oil concern Orlen, begins the implementation of 641 million. A modernization project worth eur will be built during which a deep oil refining event will be built.
This is the largest investment project in Lithuania during Orlen’s history since 2006.
The project, which is expected to be completed by the end of 2024, will increase the efficiency of oil product processing from 72% to 84%, so the company will be able to obtain 20% less oil for the same product, and the EBITDA profit of its operations should increase by about 68 million annually. . . Euro.
Michalas Rudnickis, the head of Orlen Lithuania, told BNS last fall that the technology and basic project of the so-called bottom of the barrel hydrocracking event was created by the US oil, gas and petrochemical technology mill UOP (Universal Oil Products), which is the logistics event. international logistics company Mammoet is responsible for transportation to the factory via the port of KlaipÄ—da to Maeiki.
The 1,800 t reactor, 100 m long, 6.5 m wide and 10 m high, should be launched in 2023. August and about 150 km to the port is transported to the Maeiki factory.
Similar project Mammoet in Lithuania was implemented by Orlen Lithuania in 2008.
Bendrov announced that the implemented project will increase the profitability of the Maeiki oil refinery and contribute to the strengthening of the energy security of the region, because Maeiki’s products are supplied not only to Lithuania and Poland, but also to Estonia, Latvia and Ukraine.
At the beginning of July, Orlen Lithuania completed the 80 mln. Capital repairs worth EUR and renewed production.
Dainius Kreivys, Minister of Energy, heads of the Polish Embassy in Vilnius and the general contractor of the project, the British company Petrofac, are participating in the construction opening ceremony on Thursday.
It appears that Orlen Lietuva’s net loss in the second quarter amounted to 209 million. USD (EUR 204.4 million at the exchange rate on August 5) and was 17.1 times more than last year at the same time when 12 million was incurred. USD loss.
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