Huta Katowice affiliate to construct $76 mln terminal
Warsaw-based construction company Exbud Nowa will build an ore loading
terminal in Port Polnocny for Rudoport - a company affiliated with Huta
Katowice steel mill. The investment will be financed by Bank Zachodni. The
construction is to kick off next month and it is slated to finish within two
years. The preliminary cost of investment is around $76 million. Initially,
Bank Zachodni was reluctant to release the loan until the general contractor
presented a "guarantee of a good construction" that is a deposit amounting
to several percent of the value of the investment. "The first installment of
the loan will be transferred to the account of Rudoport at the beginning of
next week," said Rudoport vice-president Wieslaw Ochnik. (Puls Biznesu, page
4) A.Z.
