Olefins III / Nowa Chemia (petrochemical complex in Płock)
An expansion of the petrochemical complex at the ORLEN Production Plant in Płock. The original Olefins III project (construction contract signed in June 2021, budget PLN 13.5 billion, completion set for Q1 2024) was halted in December 2024, when the company estimated the actual cost of the full scope at approx. PLN 45–51 billion; by that point PLN 12.6 billion in outlays had been incurred. Work is continuing in a redesigned formula under the name Nowa Chemia: in April 2026 a budget of PLN 35.8 billion was approved (including PLN 4.6 billion in financing costs), with completion of the olefins unit at a target capacity of 740 thousand tonnes of ethylene per year in 2029 and full start-up in 2030.
The original Olefins III project was halted in December 2024 with the approval of ORLEN's supervisory board, after the company estimated that the actual cost of completion under the existing scope would amount to up to approx. PLN 51 billion; PLN 12.6 billion in capital expenditure had been incurred by the time of the halt. The infrastructure already built was incorporated into the redesigned Nowa Chemia project, whose budget and schedule were approved in April 2026.
How it went
Assessment: too early to assess. Signals only where documented.
Timeline
Slip: +72 mo. vs. the original date
- Construction start Jun 2021
- Original date 2024
- Current date 2030
Change history
- Jun 2021 stage: construction
Significance
One of the largest petrochemical investments in Europe as announced at the time of its launch, and ORLEN's largest petrochemical project. Target production of 740 thousand tonnes of ethylene per year is intended, from around 2030, to take over the functions of the unit currently operating as part of Olefins II and to strengthen the production potential of the Płock plant. The project is at the same time the leading Polish example of megaproject cost escalation: from PLN 13.5 billion under the 2021 contract, through PLN 25 billion in 2023, to estimates of PLN 45–51 billion for the full original scope, which led to the halting of Olefins III and a reduction of scope to a budget of PLN 35.8 billion.
Sources 7 · 7 archived
Every fact on this card comes from the sources below. Next to each source — which fields it supports.
- ORLEN S.A. 15 Apr 2026CostCurrent dateStatusStage
Status „dokończenie budowy instalacji do produkcji olefin z docelowymi mocami produkcyjnymi etylenu 740 kt rocznie w 2029 roku"
Cost „zaktualizowany budżet projektu Nowa Chemia („Projekt") w wysokości 35,8 mld PLN, w tym 4,6 mld PLN kosztów finansowania"
Current date „pełne uruchomienie instalacji w 2030 roku"
- Nowa Chemia szybciej, sprawniej i taniej. Inwestycja po raz pierwszy z realnym harmonogramem ↗ archived ✓ORLEN S.A. 15 Apr 2026StatusCurrent dateReason for failure
Stage „budowę do 2029 r. instalacji do produkcji olefin"
- ORLEN S.A.InvestorCurrent date
Investor „na terenie Zakładu Produkcyjnego ORLEN w Płocku"
locations „na pograniczu Płocka i Gminy Stara Biała"
- Polska Agencja Prasowa 11 Dec 2024Reason for failureSchedule
Reason for failure „wyraziła zgodę na zatrzymanie projektu budowy kompleksu Olefiny III w jego dotychczasowym zakresie"
Reason for failure „dotychczasowe nakłady inwestycyjne poniesione...wyniosły 12,6 mld zł"
Reason for failure „Od teraz prace prowadzone będą w ramach projektu Nowa Chemia"
- ORLEN S.A. 6 Nov 2024Reason for failure
Reason for failure „wzrost nakładów inwestycyjnych i kosztów okołoprojektowych do ok. 45-51 mld zł"
- Parkiet 29 Jun 2023Original date
Original date „termin zakończenia inwestycji wyznaczono na I kwartał 2024 r."
- money.pl 11 Dec 2024Construction startReason for failure
Construction start „Umowę na budowę kompleksu Olefiny III Orlen podpisał w czerwcu 2021 r."
locations „budowa kompleksu Olefiny III w głównym zakładzie koncernu w Płocku"