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International Internet Magazine. Baltic States news & analytics Thursday, 06.08.2020, 18:35

Lithuania's Orlen Lietuva gears up for million worth investment

BC, Vilnius, 13.11.2019.Print version
Lithuanian oil refiner Orlen Lietuva, owned by Polish oil group Orlen, is getting ready for investments worth several hundred million euros, according the Verslo Zinios information writes LETA/BNS.

Orlen Lietuva has signed an agreement to draft a basic project as the company plans to install new residue conversion equipment to be able to better refine oil.

The company's spokeswoman Kristina Gendrvile, the exact value of the investment will be clear following all tenders.

Orlen Lietuva posted 63.8 mln euros of net profit in the first nine months of this year, down 11% from last year, and revenue rose 3% to 3.444 bn euros.

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