Rompetrol Petrochemicals expands production with USD 18 mln

Rompetrol Petrochemicals, the petrochemical division of the Rompetrol Group, has announced that it will invest approximately USD 18 million in order to increase the capacity of its high density polyethylene installation (HDPE) by more than 70 percent by March 2011. “The modernization program will allow an increase in the installation capacity – from 60,000 to 100,000 tons per year – a reduction of over 10 percent in the processing cost, a diversification of the range of products provided, as well as an increase in operating safety” said Cosmin Cocean, chief refining and petrochemicals officer at the Rompetrol Group.

The project will be carried out in partnership with Mitsui Chemical, the licensor of the HDPE installation, and Rominserv, the general contractor of the Rompetrol Group.

After production was halted in 1996 due to the lack of raw material, the installation was modernized and restarted in 2007, following a total investment of USD 14.5 million.

Last year, Rompetrol Petrochemicals registered a turnover of more than USD 240 million and total sales of 240,000 tons, up 2 percent on 2008’s results. The company passed from a net loss of USD 69.7 million in 2008 to only USD 8.2 million last year. At present, it has 531 employees and is the only domestic manufacturer of polypropylene.

Dana Ciuraru

Read more about

Air Show in Bucharest on Saturday for Aviation Day: dozens of military aircraft to fly over Aviatorilor Square

read more