Doubts continue over loan for costly Patnow II power station

Energy producer Zespol Elektrowni Patnow-Adamow-Konin (PAK) will have to wait for at least two or three months before it gets its long-promised loan from its main shareholder (Elektrim) to continue the construction of the Patnow II energy block. However the situation is not clear cut and analysts are are skeptical. The investment has so far cost PAK euro 160 million and its total cost is expected to reach euro 400 million. The head of PAK, Wojciech Adamczyk, told journalists that work will continue and will be on schedule. Elektrim confirmed it is in talks with banks in order to secure the loan. Still, analysts maintain that the weak condition of PAK, plus the state of constructor Megadex, throws a serious question mark over further financing of the project. (Puls Biznesu, p. 5) J.K.