Bumar set to benefit from changes to offset deal

"We are planning to have a meeting of the offset committee on December 30 which is to approve an appendix to the contract with LM. We are talking about an introduction of a new project for the arms sector," said a representative of the Economy Ministry, who declined to reveal further details. Analysts believe that it relates to a project of modernizing the ammunition plant in Mesko, where technology is to be supplied by Norway's Nammo, with domestic Bumar to take an active part in the project, possibly with capital engagement. Although it is difficult to estimate the value of the Mesko project, a similar one proposed last year was worth $300 million in offset terms, as $1 can have a maximum value of $5 in offset terms. (Puls Biznesu, p. 11) A.K.