As a result, the remaining support loan from Grupa Azoty S.A. and Grupa Azoty Police to its subsidiary, capped at EUR 105 million, will be disbursed no later than September 29, 2024. 

The Polimery Police project is currently in an intense phase aimed at promptly taking over the installation from the General Contractor. In this regard, the company has approved conditional Temporary Acceptance Protocols for the PP Installation and the Storage & Handling Terminal sub-projects. The successful acceptance is a significant milestone towards achieving the Guaranteed Parameters outlined in the licensing agreements and contributes to realizing the project’s business vision and strengthening the Gryfilen® brand’s position in domestic and international markets. "Our objective remains to ensure an adequate supply of polypropylene in the quality our customers expect, while also achieving optimal sales profitability," said Wojciech Blew, acting President of the Management Board of Grupa Azoty Polyolefins. 

The General Contractor, under the EPC contract, is responsible for the comprehensive execution of the Polimery Police project. Project completion will require the General Contractor to meet and maintain the Guaranteed Parameters specified in the licensing agreements for the propylene (PDH) and polypropylene (PP) production facilities. 

The Stabilization Agreement was signed with financial institutions including Alior Bank S.A., Bank Gospodarstwa Krajowego, Bank Ochrony Środowiska S.A., Bank Polska Kasa Opieki S.A., BNP Paribas Bank Polska S.A., the European Bank for Reconstruction and Development, Haitong Bank Polska S.A., ICBC Standard Bank PLC, Industrial and Commercial Bank of China (Europe) S.A. (Branch in Poland), mBank S.A., Powszechna Kasa Oszczędności Bank Polski S.A., Powszechny Zakład Ubezpieczeń S.A., Powszechny Zakład Ubezpieczeń na Życie S.A., PZU Closed-End Investment Fund BIS 2, and Santander Bank Polska S.A.