The cost of the one-year-long project will reach 84 million litas (EUR 24.35 mln), Orlen Lietuva said in a statement.
“Higher yield of the most profitable petroleum products will allow the refinery to raise economic efficiency and thus mitigate unfavorable macroeconomic factors. While continuing our commitment to achieve profitable operations, we will keep seeking to improve our internal performance, reduce expenses and increase sales”, Orlen Lietuva CEO, Ireneusz Fafara, said in a press release.
The refinery’s yield of light petroleum products is about 75 percent now; after the modernization it would increase by 2-3 percentage points, and the company will be able to refine more gasoline, diesel fuel and jet fuel from the same amount of crude oil.
Innovative process equipment for modernization of the production process will be supplied by German, Italian, Czech and Russian manufacturers.
Orlen Lietuva also reported that in mid-December 2011, it launched the construction of the sulfur granulation units, which would allow improving sulfur transportation possibilities and expand export markets. The cost of this environmental project is 38 million litas.
PKN Orlen owns 100 percent of Orlen Lietuva.