Poland's Orlen to invest $110 mln in pipeline from Lithuanian refinery to Klaipeda
VILNIUS. Aug 2 (Interfax) - Polish oil concern Orlen is investing $110 million to pave a petroleum product pipeline from Mazeikiai, Lithuania, the site of Orlen Lietuva's oil refinery, to Klaipeda, Lithuania, an Orlen source told BNS.
Orlen's investment committee approved the pipeline project in June.
Orlen Lietuva's PR Director Audrius Stasiulaitis told BNS that the petroleum product pipeline will cut logistical costs.
Lithuanian petroleum refining company Orlen Lietuva has proposed adding this project to the implementation plan for Lithuania's national energy independence strategy for 2012-2016. It plans to start carrying out the project next year and to finish up in 2017.
Orlen Lietuva owns the companies Ventus nafta, Mazeikiu naftos prekybos namai, Orlen Latvija, Orlen Eesti and several other companies. It is wholly owned by Orlen.