Lotos may abandon Azoty

Since Grupa Azoty and Grupa Lotos have postponed their joint petrochemical project, Lotos may consider finding a new partner for the investment, ISBnews reported. "It is obviously the future, but if we return to the plans regarding the project, we will not implement it with Azoty necessarily. It may be a larger and stronger global partner, because it is hard to find such in Poland," Lotos finance director Mariusz Machajewski said. The companies announced their decision about postponing the investment on Thursday. In December 2013, Azoty Group and Lotos Group signed an agreement on the establishment of a common special purpose vehicle that was to deal with the construction of a petrochemical complex worth PLN 12 billion.