Glimar's support for its costly Hydrokomplex investment is back on line

A decision was made to increase capital by zł. 60 million. "Half of the funds will come from Nafta Polska, while the other half is guaranteed by the State Treasury - Glimar's main shareholders. The capital will be used to complete the construction of its Hydrokomplex project. A new supervisory board chairman was also appointed, namely Marek Sokołowski, a member of the Grupa Lotos board," said Nafta Polska spokesman, Krzysztof Mering. The construction of the Hydrokomplex, which will facilitate the production of base oils and solvents, is essential for the company's future development. The money backing this project was suspended a couple of months ago by banks when they learned of the company's poor financial standing. The cost of the investment is estimated at EUR 124 million. (Puls Biznesu, p. 6) A.K.