Government set to complete a deal on the sale of Poznan heat and power plant

The Treasury Ministry may sign a privatization contract for the sale of shares in the Poznan combined heat and power plant (EC) amounting to around zl. 500 million. However, the budget will not receive revenues from this source until as late as 2003. According to Prawo i Gospodarka, all three shortlisted bidders, Dalkia Termika, SNET and Stadtwerke Leipzig, have completed their due diligence procedures and are now preparing binding offers for the Treasury, which they have to finish by September 23. It seems that Dalkia may present the best offer. If this company acquires EC Poznan, then it would control both production and distribution of heating for the city. The company already owns shares in EC Zielona Gora and plans to take part in the privatization of more such companies in Grudziadz, Plock, Lodz and Gorzow. Two others bidders are also active on the Polish market, but their investment is not yet as well-developed. SNET has owned EC Bialystok since last year. Stadtwerke Leipzig owns a majority stake in an energy distributor in Tczew and plans to take part in the privatization of EC Gdansk. (Prawo i Gospodarka, pp. 1, 5) M.M.