HIP Petrohemija Pancevo to invest 15.4 mln euros in 2020

Assessing a 15.4 mln euro investment plan for 2020, the supervisory board of Serbia's state-owned petrochemical plant HIP Petrohemija has concluded that work on increasing the processing capacities would constitute a crucial change, according to the company magazine Informator.

03 Decembar 2019 14:22

PANCEVO - Assessing a 15.4 mln euro investment plan for 2020, the supervisory board of Serbia's state-owned petrochemical plant HIP Petrohemija has concluded that work on increasing the processing capacities would constitute a crucial change, according to the company magazine Informator.

Petrochemical processing should be increased from the present 1,370 t a day to 1,550 t a day, which is a major challenge but also a possibility for "boosting the market presence" and a step towards maximising the utilisation of the capacities of the ethylene plant, the magazine said.

Adopting the business report for the first ten months of this year, the board of the Pancevo, northern Serbia-based company expressed concern over a trend that has resulted in a lower-than-planned EBITDA of "minus 740 mln dinars."

"Next year will pose a challenge to the operations of the petrochemical industry due to a negative trend of petrochemical product prices on the global market, and the 2020 business plan envisions an EBITDA of plus 100 mln dinars," the magazine said.

(1 euro = 117.5 dinars)

Photo: petrohemija.com


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