In Brief: PLK makes tracks; Mostostal Zabrze bankruptcy; Gdynia stake

PKP Polskie Linie Kolejowe (PLK), a railway infrastructure operator, will invest zł.6.6 billion in the modernization of the railway tracks between 2004 and 2006, revealed the company's president Tadeusz Augustowski. After 2006 PKP PLK plans to spend around zł.3.5 billion annually on the investments thanks to the funds from the EU. Moreover, by 2006 the company plans to take a zł.800 million loan from the European Investment Bank. The loan will be guaranteed by the State Treasury and will be paid off by 2021. (Rzeczpospolita, p.B3) ...The district court in Gliwice has announced the bankruptcy of Mostostal Zabrze with the possibility of achieving a settlement. After the first six months of this year the company has incurred a loss of zł.2 million compared to the profit of zł.31 million in the same period last year. The loss for 2003 totaled zł.43.4 million. (Rzeczpospolita, p.B3) ... The State Treasury has increased its stake in the Gdynia Shipyard from 25% to 44.9%. The company's capital was increased by zł.80 million. (Puls Biznesu, p.6) E.B.