What is the revised budget for PKN Orlen's 'New Chemicals' project, and how does it relate to the cancelled 'Olefins III' project?

The revised budget for PKN Orlen's 'New Chemicals' project is 35.8 billion Polish zlotys. This project emerged after the cancellation of the troubled 'Olefins III' expansion project in December 2024, which had been projected to cost $12.56 billion.

What are the key components and timeline of the 'New Chemicals' project, and how will it affect existing infrastructure?

The 'New Chemicals' project includes building a new steam cracker and expanding sales capacity for ethylene oxide, ethylene glycol, styrene, and C4 fractions; the new ethylene unit is scheduled to reach a nominal capacity of 740,000 tonnes per year by 2029 and fully commence operations in 2030, while the existing Olefins II unit — with a capacity of 640,000 tonnes per year — will be phased out gradually at the same site.

PKN Orlen Adjusts Budget for New Chemical Project

Apr 27, 2026

PKN Orlen revised its new chemicals project budget to 358 billion zloty, replacing the cancelled Olefins III expansion. The scaled-down plan includes a new steam cracker targeting 740,000 tons of annual ethylene capacity by 2029.

ccin

2026-04-17

Orlen revises New Chemicals project budget to $9.9B

2026-04-27

PKN Orlen Adjusts Budget for New Chemical Project

PKN Orlen Adjusts Budget for New Chemical Project

FAQ