Gdansk Refinery to post 2002 profit of zl. 80 million

Gdansk Refinery (RG), which posted promising financial results last year intends to invest approximately zl. 150 million this year. "The money will be spent on increasing the capital of RG's subsidiary Lotos Ekoenergia," said RG president Pawel Olechnowicz. He refused to comment on the consequences of the result of the tender for the purchase of a 75% stake in the refinery. RG should close 2002 with zl. 80 million net profit, which is 30% higher the company had envisaged. According to Olechnowicz, in 2003 sales revenues will increase from zl. 6.3 billion to zl. 7.2 billion while net profit will probably amount to zl. 75 million. (Puls Biznesu, p. 4) A.Z.