ORLEN completed the acquisition of REMAQ.

ORLEN, an oil refiner and petrol retailer, completed the acquisition of REMAQ, a recycling company. Financial terms were not disclosed. "Our chemical plastic recycling projects will allow us to deliver on circular economy goals and to reduce demand for oil and gas as feedstocks in petrochemical production. The acquisition of REMAQ will help the ORLEN Group to expand its mechanical recycling capabilities. We aim to effectively link all waste recycling methods and create a fully functional chain enabling local governments, waste distributors and final converters to work together efficiently. In line with the ORLEN Group’s Strategy, we target up to 400k tonnes of plastic and natural waste recycling capacity by 2030. This is our contribution to protecting the environment and the planet that will also drive long-term value growth for the Groupm" Daniel Obajtek, PKN ORLEN President.