Zakłady Chemiczne Zachem SA, a company of the Ciech Group, signed with Prochem S.A., which is listed on the stock exchange, a contract pursuant to which the latter company is to be the General Contractor for the “Construction of installations and implementation of an innovative technology for epichlorohydrin production of glycerine" project (shortly GTE) implemented in Bydgoszcz.
The eligible costs of the said project account for more than PLN 55 million. Zachem acquired an EU subsidy for the project within the Operational Programme Innovative Economy 2007-2013 accounting for PLN 27.65 million.
– The contract concluded with Prochem commences another very important stage of works on the investment in question. The main contractor’s task will include, among others, to complete supplies for the GTE installation, select subcontractors for individual discipline works during the investment implementation and to supervise the entire installation construction process and well as to participate in the activation thereof – said Krzysztof Grad, spokesman of the Ciech Chemical Group.
EPI (epichlorohydrin) is one of the basic raw materials used to produce epoxy resins manufactured at Zakłady Chemiczne Organika-Sarzyna, also a company of the Ciech Chemical Group. – The investment at Zachem is a considerable improvement in the epoxy business at Organika-Sarzyna. Due to it, we release the synergy effects between the Group’s companies – underlined Krzysztof Grad, spokesman of the Ciech Chemical Group.
Zachem has already prepared the environmental impact assessment report for the project, obtained the decision on environmental conditions, process design and construction design. The technical design is being prepared now and the construction permit is expected in August. The expected effects of the investment include not only significant economic benefits, including integration of chemical processes at Zachem, but also a positive impact on the environment. The new technology will reduce pollution emissions and ensure glycerine waste management. Nowadays, less than 5 percent of epichlorohydrin manufacturers worldwide use the said technology.
The investment is to be completed on December 31st, 2011.
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press release download:  The investment in EPI production of glycerine heads towards the crucial phase |
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The Ciech Chemical Group is the biggest chemical concern in Poland. It comprises 58 companies and is one of the leaders in the Central European market. The Group has a well-developed production structure and business network in Poland, Europe and Asia. The main Group’s products include soda ash (second place in Europe), TDI, salt, phosphate and compound fertilizers, plant protection chemicals, epoxy and poliester resins and other organic chemical products used in the glassmaking, furniture, chemical, construction and agriculture industries. With annual revenues of approximately PLN 3.7 billion, the Ciech Chemical Group is among the 50 largest Polish enterprises. Since February 2005 Ciech SA has been listed on the Warsaw Stock Exchange. The largest shareholders of the company include the State Treasury (36.68 percent of shares and votes at the General Meeting of Shareholders), Pioneer Pekao Investment Management SA (19.64 percent), PZU "Złota Jesień" Open Pension Fund (6.12 percent). More information at www.ciech.com.
Media contact:
Krzysztof Grad, Spokesman of the Ciech Chemical Group, Director of Communication Department of Ciech SA
tel. (+48 22) 639 13 18, mob. 0 669 600 011, e-mail: krzysztof.grad@ciech.com |