InterMin OKs sale of Gdańsk energy plant to EdF/GdF

After a half-year delay, the Interior Ministry (MSWiA) has finally approved the sale of a majority stake in Gdańsk area power and heating plant ZEC Wybrzeze to the consortium of Electricite de France (EdF) and Gaz de France (GdF). The Treasury Ministry originally signed the deal with the French firms back in June 2000 and was expecting it to go into effect within a couple of months. However, in this case MSWiA, which has to approve all sales of state property to foreign entities, failed to do so without giving any official reasons. Rumors have it that the main cause of the hold-up was an investigation into irregularities at the Gdańsk municipal heating firm GPEC, which is ZEC Wybrzeze's largest client. Two Gdańsk deputy mayors were arrested by the State Protection Office (UOP) in connection with the affair on Jan. 22. Shortly afterwards, MSWiA authorized the sale of a 45% stake in ZEC to the French consortium for euro 160 million. According to the agreement, as soon as the sale is complete, EdF/GdF will raise ZEC's capital by euro 12 million, giving them a 50.12% stake. (Puls Biznesu, p.6) T.J.