Cheers as Nafta Polska reprieves Glimar refinery threatened by financing fears

"After verifying the business plan of the investment in the Gorlice-based company, we came back to the initial plan, which is merging the firm into Grupa Lotos [the second largest domestic refinery]," explained Żyndul. The investment has so far cost zł.341 million and financing was halted a few days ago after one of the advisory companies expressed doubts about the feasibility of the project. Żyndul added that the plan needed to be restructured. "While preparing the project, its authors envisaged that the company would be allowed to use numerous benefits, which have recently been annulled," said the Nafta Polska chief. (Parkiet, p. 4) M.M.