Elektrim President resigns over failure to secure additional PAK plant

Piotr Nurowski, the acting President of Elektrim has submitted his res ignation following an unsuccessful attempt to come to an agreement with the State Treasury concerning the future of the Pątnów-Adamów-Konin (PAK) power plant group. Elektrim which controls 38% of PAK, failed to settle the issue of the construction of an essential and additional power block, an inv estment which until a couple of days ago was said to commence any time. "My mission with Elektrim has come to an end. I have used all my potential in the negotiations with the State Treasry concerning PAK," announced Nurowski. According to the privatization contract signed in 1999 the investment was to be finalized by March 2005, a date which was later postponed to the end of the same year. However it is now clear there is no way Elektrim will make it on time. Therefore an investment worth EUR 400 million, and which has already cost Elektrim EUR 200 million is now a very big question mark. (Gazeta Wyborcza, p. 18; Puls Biznesu, p. 6) A.K.