Joint-stock PKP to commercialize, restructure, privatize

The Polish State Railways (PKP) could start the new year as a joint-stock company PKP S.A. if everything goes according to PKP management plans. By the end of this month the Transport Minister is to agree to commercialize the company, i.e. to transform it from a state company to a state-owned partnership. PKP would then be entered in the commercial register as a partnership. Another step towards restructuring and then privatization of the ailing railways would be separating from PKP the companies which are not directly related to the main scope of PKP activities. Nine such spin-offs are to be detached by the spring of 2001, including advisory, telecom and pharmaceutical firms, as well as two local commuter train networks, in Warsaw and the Tri-city area of Gdansk, Gdynia and Sopot. Later in the year, PKP is to be split into three companies dealing with passenger transport, cargo transport, and railway infrastructure, respectively. (Puls Biznesu. p.4)