Petrohemija builds propylene plant worth EUR 120 m- Contract on Detailed Regulation Plan development signed

(Photo: hip-petrohemija.com)

Contract on Detailed Regulation Plan development for the construction of propylene plant at HIP-Petrohemija was signed between HIP – Petrohemija and the Directorate for construction and development of Pancevo.

Funds for the preparation of plan and project documentation for the construction of new plant were provided within the activities of the Government of Serbia focused on long-standing business stabilization and ending the privatization process at HIP-Petrohemija and in line with the Agreement on cooperation between HIP-Petrohemija and NIS, Pancevo-based company announced.

As it was stated, with the construction of the polypropylene plant totaling some EUR 120 m, Petrohemija would develop commercial valorization of products, step out of the business losses zone, increase export potential, contribute to economy development at national and local level.