Rompetrol Petrochemicals, the petrochemicals division of The Rompetrol Group has commenced High-density polyethylene (HDPE) output as a result of investments totaling some USD 14.5 million. Boasting a 60,000 tons/year capacity, the new equipment will significantly boost turnover and allow for a wider range of products sold throughout the region and Europe, and furthermore generate technical solutions tailored to clients’ needs.
“Starting up the HDPE equipment marks yet another stage in the development plan announced as early as 2 years ago and which brings Rompetrol Petrochemicals among the significant players in Central and Eastern Europe. In fact, we’ll continue re-commissioning equipment currently in conservation, as we announced in 2006” states The Rompetrol Group refining vice-president Cosmin Cocean.
The HDPE installation entered into a conservation phase in 1996 as a result of lack of feedstock ethylene and The Rompetrol Group general contractor Rominserv commenced restart operations by the end of last year. Said operations envisaged overhaul and modernization of the HDPE equipment (compressors, reactors, extruding) and adjacent installations (warehouses).
Over the following 2 years, investments in petrochemicals will go up to at least USD 170 million. Amongst the most important is restarting the pyrolysis installation, which has the capacity to produce 200,000 tons of ethylene and 100,000 tons of propylene yearly. To date (2003 - August 2007), investments achieved by Rompetrol Petrochemicals totaled USD 66 million and were aimed at both modernizing production installations (including restarting some of them) and acquisition of licenses intended for manufacturing new products (gas transport pipes and extra thin foil).
In April 2006, Rompetrol Petrochemicals entered in a 14-year long trade partnership with Dow Chemicals of the US – the biggest polyethylene producer worldwide. Throughout said duration, the company will supply HDPE and LDPE, taking advantage of both technical support, raw materials and technical specifications for polymers, and ethylene supplies, till the pyrolysis installation will be restarted.
Rompetrol Petrochemicals posted in H1 a RON 297 million (some USD 118 million) turnover, marking a roughly 50% rise over the similar 2006 duration figure. The company forecasts a turnover of USD 284.4 million this year, translating into 85% rise over 2006.