Fortum is to invest euro 67 million modernizing EC Tychy

Heating plant EC Tychy has signed a euro 67 million contract for a new heating block with Fortum Engineering, one of the biggest engineering groups in the world. "The investment will be covered mainly by loans from Kredyt Bank S.A., with the rest coming from a consortium of other Polish banks," said EC Tychy's management board president Slawomir Madejski. This is Fortum 's second investment in Tychy. The previous investment was for $40 million and allowed the heating plant to become more efficient. (Prawo Gospodarka,June 10-11, page 1, 3) M.M.