KGHM ambitious plan to invest $1 billion

This means that the company will invest zł.700 million every year for the next five years. "If macroeconomic conditions do not deteriorate radically, the company might have a net profit of zł.2 billion next year," said KGHM president Wiktor Błądek. He added that if the złoty strengthens further and copper prices fall, the profit would obviously be lower. The firm's management board projects that this year the company would earn around zł.1.34 billion. In 2003 the profit amounted to zł.411.6 million. Over the next five years KGHM wants to keep copper production at around the level of 550,000 tones a year. Representatives of the management board also informed that the final decision concerning the abolition of Telefonia Dialog's debts (the operator is 100% owned by KGHM), will be made in December at the latest. (Parkiet, p. 3) A.F.