PKP to boost PKP Intercity with PLN 1 bln

Image : PKP Intercity

State-controlled PKP will conduct a recapitalization of its subsidiary PKP Intercity with a value of PLN 1 billion, the money will come from the sale of PKP Energetyka which stood at PLN 1.4 billion, Jakub Karnowski, the CEO at the group reported. Today, on September 25, the acquisition of PKP Energetyka was finalized.

“The total amount of PLN 1 billion is to be earmarked for the modernization of rolling stock and investments in the technical equipment and IT systems,” Karnowski stated, adding that the recapitalization will be enforced within one month.

Karnowski also said that the company is going to use the money from the sale to pay off its long standing debt.

 

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