Kopex about to close $520 million worth of export contracts

Katowice-based exporter of mining equipment and services Kopex, is close to signing three lucrative contracts in Serbia, Iran and Vietnam, which should produce revenues of $130 million. "In Serbia we will provide the technical infrastructure for an opencast mine in Kolubara. The investment is based on a loan given by the Polish government to the Serbian party," said a Kopex director Janusz Primula. Moreover, Kopex is also negotiating the construction of $300 million power plant in Vietnam. Due to the size of the investment, Kopex created a consortium with Polimex-Cekop and Energoprojekt Katowice as, "As with the mine, this investment is a green-field type, but the financing will be different," said Primula. Most likely the project will be financed from a tied loan from the Polish government and a commercial bank. Kopex also is preparing a $90 million offer with German Knauf to reconstruct a plaster mine in Russia. (Parkiet, p. 1) M.M.