MOSCOW (MRC) -- Czech downstream oil group Unipetrol (PKN Orlen's affiliate) expects petrochemicals to become the largest source of revenue for the company in 2013-2017, according to PKN Orlen's press release.
Unipetrol wants to use the favourable market conditions to reinforce its position on the petrochemical market and optimise its operations.
Thus, the company is preparing a number of modernisation projects: construction of new polyethylene and DCPD units, de-bottlenecking of polypropylene production. It also intends to continue the restructuring process (revamping of the residual oxidation unit (POX), possible closure of the ammonia unit).
By 2017, the Company plans to increase the capacity utilisation of the pyrolysis plant by 13%, and improve sales of petrochemical products by 11%, to 1.4m tonnes.
Based on estimates, average annual LIFO-based EBITDA should reach CZK 3.3bn (up by CZK 1.4bn compared with 2012). Capital expenditure (including expenditure on investments in the power segment) will amount to CZK 2.7bn in 2013-2017 on an average annual basis. Average annual operating cash flow (FCF) will improve from CZK 1.1bn in 2009-2012 to CZK 1.5bn in 2013-2017.
Unipetrol , a.s. is a group of companies operating in the petrochemical industry in the Czech Republic. In 2005 Unipetrol became a part of the PKN ORLEN Group, the largest oil processor in Central Europe. The UNIPETROL Group is oriented mostly towards oil processing, fuel distribution and petrochemical production. In all of these business areas the Unipetrol Group is among the key players both in the Czech Republic and on the Central European market. The Group ranks among the leading firms in the Czech Republic in terms of its revenues, and employs almost 4,000 people.
MRC