June 30, 2015 / 3:42 PM / 4 years ago

Poland approves chemical group Azoty's coal-based project

KATOWICE, Poland, June 30 (Reuters) - Poland approved a plan on Tuesday for its largest chemicals maker, Grupa Azoty , to develop a coal gasification project that would help increase local demand for coal by 1 million to 2 million tonnes annually.

The project would be part of a wider programme designed to boost the country’s southern industrial area Silesia, where the bulk of Poland’s struggling coal mines are located.

The investment is valued at 1.8 billion zlotys ($480 million) to 4.2 billion zlotys ($1.1 billion), depending on whether it will produce hydrogen or methanol.

Construction will take 5 to 6 years and the plant is expected ultimately to use 1 million to 2 million tonnes of coal. ($1 = 3.7551 zlotys) (Reporting by Wojciech Zurawski; Writing by Agnieszka Barteczko; Editing by Michael Kahn and David Evans)

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