Azoty with environmental permit for PLN 1.1 bln power plant

Listed chemicals firm Puławy, a unit of group Azoty, received an environmental permit for its 400 MW gas-fired heat-and-power plant project worth over PLN 1.1 bln, Puławy's power unit Elektrownia Puławy CEO Zygmunt Kwiatkowski told reporters in Lublin. Puławy intends to complete the financing model by end-2015. The investment is to be 35% financed with the company's own means, the remainder will be credit. Construction works are to begin next year and finalized in 2019.