Ciech to invest almost zł.100 million prior to its IPO

Warsaw-based chemical concern Ciech, which plans to debut on the Warsaw Stock Exchange this fall, announced plans to invest as much as zł.96.6 million before the end of the year. The funds will chiefly come from its own capital and its subsidiaries. However, company representatives disclosed that its two main projects, an investment in Petrochemia Blachownia and Vitrosilicon, will have to be financed with external funds. The strategic assumption behind these investments is to base the business objectives on the production of soda and phosphorus in alliance with the Police Chemical Plants, which are still controlled by the State Treasury. In order to develop this market segment, the company plans to devote around zł.200 million, which will be raised from listing its shares on the bourse. (Puls Biznesu, p. 5) A.K.