Another year – another investment plans
In the financial year 2011/2012 Pulawy Company has reached PLN 600 million profit, and it was the best financial result in the history of our Plant.
LAST YEAR = HUGE INVESTMENT
Last year was the third in a row in which we have implemented some ambitious investments worth about PLN 290 million. We were able to rebuild the water demineralization plant, the installation removing carbon dioxide from the gas used for the synthesis of ammonia and to modernize the nitrate packing line. This year, we intend to complete the fumes desulphurization installation, and then complete the construction of a new production line of liquid fertilizers. At the same time we manage to continue the construction of ammonia storage facility and the installation for solid fertilizers production.
“MODERNIZATION OF THE YEAR”
Our ambitious investments were appreciated by the jury of the sixteenth edition of the “Modernization of the year” competition. The jury rewards few investments standing out due to their special values. Our plants have been awarded in the category of industrial facilities. We have been awarded for the urea plant modernization. “With the completion of this project, the Company managed not only to increase the production but also reduce significantly the ammonia consumption rate. Carrying out this modernization, the main aim was to minimize capital expenditure in relation to planned production increase, as well as the pro-environmental gain. All the aims have been achieved “.
STRENGTHENING THE MARKET POSITION
Modernization of the production line allowed us to increase the production to 1 215 thousand tons / year, that is about 270 thousand tons / year more. With these changes, we have become the second largest producer of urea in the EU. This is a huge step in the development of our Plant and building position in the foreign markets. By awarding us the prize, jury also stressed that our investment is really important from an environmental perspective, because you have to remember that urea solution produced in Pulawy is used to remove nitrogen oxides.
BUILDING PULAWY POWER PLANT
We are not slowing our pace. We plan ambitious investments in the future. Our Company wants to spend over PLN 300 million on several investments by the end of 2012. Building Pulawy Power Plant is the most ambitious among our plans. The most ambitious plan is to build Pulawy Power Plant. It will be a gas-steam power plant with a capacity of 800-900 MW. We realize the investment together with PGE group. We plan to start the investment in 2015 and in 2017 we would like to see the power plant working. The estimated cost of the investment is about PLN 3 billion.
THE DIVIDEND GOES FOR INVESTMENT
And that is why, we were so glad, that the Treasury Ministry decided that further investments rather than dividends will be the priority for Pulawy Company. Before the final decision is taken on that matter, minister Mikołaj Budzanowski wants to analyze all currently run and planned investment projects. In his opinion, the investments will be treated with priority in the allocation of profit for the previous financial year.