will invest 640 million LTL in Mažeikiai Oil Plant. euros

The total value of the investment will reach 641 million. Orlen reported through the Warsaw Stock Exchange.

The works are expected to be completed by 2024. end.

The selection of the contractor was verified by the Lithuanian government commission examining the transactions of strategic companies.

According to the report, this is by far the largest investment project in Lithuania in the history of Orlen’s activity since 2006. It will increase the profitability of the Mažeikiai oil refinery and contribute to strengthening the region’s energy security.

About the five-year strategic plan and the approved 641 million. Orlen Lietuva announced the euro investment project in early October, when President Gitanas Nausėda visited the company.

Polish Deputy Prime Minister Jacek Sassin said at the time that new times and new challenges related to energy transformation required modernization of infrastructure.

Daniel Obajtek, President of Orlen, said that in 2006 the plant acquired by the concern needs to be modernized.

According to him, the project from 72 percent. up to 84 percent. will increase the efficiency of oil product refining, so the company will be able to get the same amount of products from 20%. lower crude oil content.

“This is a huge optimization of the whole production process, (…) which is necessary to supply the Polish market, because we have a fuel deficit in the country and we import some of it from other directions.

This huge investment will allow us to optimize the oil refinery and allow us to develop the competence of certain oil refineries, ”D. Obajtek explained in Mažeikiai at the beginning of October.

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