ESP short listed for Lithuanian tender

A subsidiary of National Grid (PSE) ESP has been short listed in a tender for Lithuania's second largest energy distribution company RTS. PSE President, Stanisław Dobrzański, admitted that participation in the proceedings is just the start of its international expansion. "UCTE, international association of transfer system operators, has chosen us as a technical operator in the Central European region. Success as part of this organization should be turned into business success," added Dobrzański. He also added that his company was interested in further investments in Lithuania, but refused to present details of future expansion. "We will make final decisions in 2-3 years," said Dobrzański adding, PSE needed to decrease its liabilities first, which were not too high in the opinion of banks. "Our long-term liabilities amounts to zł. 1.6 billion. After the first 7 months of 2003, our gross profit exceeded zł. 180 million," said Dobrzański. (Puls Biznesu, pp. 1, 4) M.M.