LOTOS launches EFRA project

LOTOS broke ground for its EFRA (Effective Refining) project on Wednesday, the company reported. With EFRA Programme’s units, the refinery in Gdańsk will add up to 900,000 tonnes to its annual fuel output and will also produce 350,000 tonnes of coke. "EFRA naturally completes the full technological cycle of crude oil processing, enabled by the construction of modern refining units under the 10+ Programme. The high competencies of our management and other staff allow us to successfully implement investment projects and consistently strengthen our market position,” Paweł Olechnowicz, President of the Management Board of Grupa LOTOS said. "Thanks to the higher crude distillate yield, we will achieve higher margins, offer higher volumes of high-demand products and, consequently, record improved performance, delivering measurable benefits to our shareholders," he added. The Programme is expected to increase the refining margin by some USD 2 per each barrel of oil processed. The total capital expenditure amounts to nearly PLN 518 million. The construction deadline is scheduled for the second quarter of 2018.