Elektrim hopes to get financing for plant construction

Elektrim has an increased chance of acquiring financing of zł. 1.2 billion, apparently from the EBRD, for the construction of a generating block at the power-plant in Pątnów, but the main problem is that bondholders do not like the way it is to be carried out. As a result, their representative on the company's management board, Piotr Rymaszewski, has been suspended. This may mean another power conflict within Elektrim. "There will be no conflict," said Zygmunt Solorz, one of the most influential people in Elektrim. Investors do not, however, share his optimism and analysts think that there will again be growing concern over the firm's future. "The banks that were to put money in the investment have demanded that the contract be transferred from Megadex [Elektrim subsidiary] to another company and that the provisions made on Elektrim assets be freed, after agreement has been reached with creditors," said an informed source. Rymaszewski has had to defend two conflicting interests, the creditors' and the company's. (Puls Biznesu, pp. 1, 3, Parkiet, p. 3) M.M.