IVG plans DM 100 million investment in fuel sector

German property developer IVG has announced plans to invest DM 100 million in the construction of fuel storage facilities in Poland, as part of a long-term strategy that will eventually lead to it covering the whole of the country. IVG's first fuel storage facility in Poland, which was opened on November 1, was built at a cost of zl.50 million and has a capacity of storing up to 34,000 cubic meters of fuel. The facility serves such major customers as Aral, BP, DEA, Preem and CRC. IVG has also announced plans to take part in the tender organized by Nafta Polska for the sale of Naftobazy, Poland's largest fuel storage operator. Other companies that have expressed an interest in the tender include Oiltanking of Germany, Vopak of Holland, Poland's Chem Trans Logistic, and three American enterprises. (Puls Biznesu, p. 6) A.K.