Grupa Azoty to expand its Police facility for €1.27 bln

WSE-listed chemicals giant Grupa Azoty will expand its planned petchem project in Police, and will build there a polypropylene plant as well. The price tag for the whole project has been set at €1.27 billion, the company said in a market filing. CAPEX is expected at €984 million and the cost of financing is estimated at €263 million. The plant will have a production capacity of 400,000 metric tons per annum and is expected to be operational by end-2022, with the construction launch date set for end-2019.