H. Cegielski's euro 200 million Sudan contract still awaits investment guarantees

H. Cegielski-Poznan is still awaiting final confirmation before going ahead with the largest contract in its history. The contract, with an estimated value of euro 200 million, relates to the construction of a power plant in Khartoum in Sudan. Construction work, which is due to start this year, will be undertaken by H. Cegielski in partnership with Siemens Industrial S olutions and Services Group. Siemens will provide the electrical systems and the Polish company, which could be entitled to as much as half the con tract's value, will be responsible for the mechanical equipment. "The contract was signed at the end of October 2001. It's what is known as a high risk contract. Its realization is dependent on an advanced payment to the contractors," explained Boleslaw Januszkiewicz, spokesperson for H. Ce gielski. He added that the Sudanese side is still trying to obtain the bank guarantees necessary to begin the project, which is scheduled for completion in 2004. (Prawo i Gospodarka, p. 4) A.Z.