Slovnaft invests €1.3bn
Oil refinery Slovnaft plans to increase its investments from €130m annually on average in 2009-18 to €260m annually in the coming five years. The massive €1.3bn investment program will involve spending hundreds of millions on plastics production. Recently, the company has completed a €300m polypropylene production unit. A hydrogen production facility will require dozens of millions. Slovnaft needs hydrogen for making fuels and plastics but also wants to sell it as fuel for trucks and buses. Another large investment project is a unit called a fluid catalytic crack, which will process waste in fuel production into propylene. In light of the uncertain future of petrol and diesel cars and their improving fuel efficiency, Slovnaft wants to reduce the share of fuels of its total output from the current 75% to half.