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, as of 15 Jul 2026. This is our reading, not a verdict, and we show it only where a quote from a source listed below stands behind it. Of the four, 2 carry no assessment yet, one has an assessment with no confirmed quote. How to read this section
Timeline
Slip: about 6 years vs. the original date (given as a year)
- Construction startJun 2021
- Original date2024
- Current date2030
Change history
- Jun 2021stage: 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.
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- ORLEN S.A.15 Apr 2026StatusCostCurrent dateScope
Statusdokończenie budowy instalacji do produkcji olefin z docelowymi mocami produkcyjnymi etylenu 740 kt rocznie w 2029 roku
Cost · Scopezaktualizowany budżet projektu Nowa Chemia („Projekt”) w wysokości 35,8 mld PLN, w tym 4,6 mld PLN kosztów finansowania
Current datepełne uruchomienie instalacji w 2030 roku
- [2]Nowa Chemia szybciej, sprawniej i taniej. Inwestycja po raz pierwszy z realnym harmonogramem ↗archived ✓ORLEN S.A.15 Apr 2026Stage
Stagebudowę do 2029 r. instalacji do produkcji olefin
- ORLEN S.A.Investor
Investorna terenie Zakładu Produkcyjnego ORLEN w Płocku
Locationna pograniczu Płocka i Gminy Stara Biała
- Polska Agencja Prasowa11 Dec 2024Failure description
Failure descriptionOd teraz prace prowadzone będą w ramach projektu Nowa Chemia
- ORLEN S.A.6 Nov 2024Failure description
Failure descriptionwzrost nakładów inwestycyjnych i kosztów okołoprojektowych do ok. 45-51 mld zł
- Parkiet29 Jun 2023Original dateSchedule
Original datetermin zakończenia inwestycji wyznaczono na I kwartał 2024 r.
ScheduleZ kolei termin zakończenia inwestycji wyznaczono na I kwartał 2024 r. Teraz finalizację przedsięwzięcia zapowiada się ponad trzy lata później, o ile znów nie nastąpi opóźnienie.
- money.pl11 Dec 2024Construction startFailure description
Construction startUmowę na budowę kompleksu Olefiny III Orlen podpisał w czerwcu 2021 r.
Locationbudowa kompleksu Olefiny III w głównym zakładzie koncernu w Płocku
Failure descriptionwyraziła zgodę na zatrzymanie projektu budowy kompleksu Olefiny III w jego dotychczasowym zakresie