Thursday, 19 November 2009

Poland chemical privatisation faces more delays

Close-up of stacks of bank notes
It's perhaps not surprising that bidders are to be given extra time to submit binding offers for the package of Ciech, fertilizer, caprolactam and polymer producer Zaklady Azotowe Tarnow (ZAT) and nitrogen fertilizer, plastics and oxo alcohols producer Zaklady Azotowe Kedzierzyn (ZAK).

Poland's chemical industry privatisation, Polish state company restructuring agency Nafta Polska revealed the news on Thursday, as reported on ICIS news. The move was necessary, the agency said, because some of the six shortlisted potential buyers had requested more time to examine the financial condition and investment strategy of each of the firms in the package.

None of these companies is in particularly good shape financially and all will require further restructuring to bring them up to world-class standards. Central Eastern Europe is being hit really hard by the economic downturn too with financial instability at state level still a real concern.

1 comment:

  1. Dear Will,

    My name is Yerlan and I am a national of Kazakhstan. I have some concerns about petrochemical industry in our region of Atyrau and I thought you might help. At this time, there is a discussion ongoing regarding of aromatics unit to be installed at Atyrau Refinery. Total project cost is USD 1,040 blns, project to be accomplished by Chinese SINOPEC and planned production value is 133,000 tpa of benzene and around 500,000 tpa of paraxylene. I would like to have some more information about similar aromatics units accross the Europe and worldwide, it's pros and cons, costs of installation if possible. If you can give me an advice and list some links over the net, I would be much thankfull to you. Also, your humble opinion will be highly appreciated. Thank you!
    You can send me mail to


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