GDANSK, Dec 18 (Reuters) - Polish state-controlled refiner Orlen said on Thursday it had signed a deal with chemicals group Synthos to acquire a company building a new butadiene extraction unit at its
Orlen to Acquire Butadiene Plant Builder for $193 Million
GDANSK, Dec 18 (Reuters) - Polish state-controlled refiner Orlen said on Thursday it had signed a deal with chemicals group Synthos to acquire a company building a new butadiene extraction unit at its production plant in the city of Plock in central Poland.
The deal has an enterprise value of 692 million zlotys ($193 million) and it will lengthen Orlen's petrochemical value chain, the company said, adding that the final settlement is expected by the end of June 2026.
The extraction unit was initiated as part of the Olefins III expansion, a model under which Orlen said it did not have operational or ownership control over the investment.
Last December, Orlen decided to revise the Olefins III project and proceed with a new framework called "New Chemistry", after its costs spiralled and a state audit revealed significant losses.
($1 = 3.5896 zlotys)
(Reporting by Rafal Nowak in Gdansk, editing by Milla Nissi-Prussak)
