A special purpose company, Grupa Azoty Polyolefins , has been approved by the Office of Competition and Consumer Protection (UOKiK) in Poland.

The proposal was brought by Grupa Azoty, the Polish chemical conglomerate, Lotos, an oil company  and, from South Korea,  KIND ( Korea Overseas Infrastructure & Urban Development Corporation) and Hyundai Engineering who have now formed the new company to build installations for the production of   polypropylene (PP).

PP is a highly chemical resistant, weldable thermoplastic with a rigid and crystalline structure.  It is commonly found in household products, packaging, medical devices, battery cases and other everyday items.  It is also used within the automotive industry because of its weldability and resistance and can also be found in hinges and textiles. 

Back in September 2019, Azoty announced that it had already signed the deal with its 2 Korean partners who were investing a joint total of  €119.2-million ($130-million) in the project alongside Azoty's own investment of €334.7-million ($365-million).

This project, Polimery Police, is the company's largest investment project to date and is likely to produce an annual tonnage of 337,000.

The total cost of the project is anticipated to be  €1.52-billion.