Ciech plans €100 mln in Germany

WSE-listed chemicals group Ciech will build a €100 million salt plant in Germany, the company said in a market filing. The facility will have 450 kt annual capacity, and Ciech expects the project to be completed within the next 2-3 years. “The Management Board has decided to initiate the preparatory phase of the investment in connection with the planned development of the salt business abroad, after conducting market and technological analyzes which initially confirmed the attractiveness of the project,” Ciech said. “The preparatory phase of the project includes, among others, tendering procedures related to the project implementation, including key technology, preparation of the project documentation and obtaining administrative decisions,” the statement explained A final decision will depend on market conditions, appropriate administrative decisions and/or granting public aid by the respective German administration.