RG looks to PKN Orlen backing for $540 million project

Gdańsk Refinery (RG) intends to spend $540 million on an Integrated Ga sification Combined Cycle (IGCC) installation in its plant and invited PKN Orlen to participate in the project. The latter did not refuse, but claims that the investment can be carried out for $160 million less. However, this would not result in expanding the production capacity of RG from the current 4.5 million tones to 6 million tones a year. The president of Nafta Polska, Maciej Gierej, supports the idea of Orlen's participation in the project. "We only have doubts whether it is economically viable. I hope that we will soon meet and discuss the details," said PKN's production and development director Janusz Wiśniewski. He also claims that Orlen's participation is vital for the project, as RG would be unable to fully utilize the new capacity. "The oil that would be processed in the new installation could be acquired from other companies as well," said RG's president Paweł Olec hnowicz. (Parkiet, p. 3) M.M.