KR finds investors with zł. 500 million to upgrade its gas stations

Over the next two years a new fuel network may emerge on the market, which will consist of 400-500 stations. "We have about 700 gas stations. By the end of 2005, we intend to modernize 400-500 of them, which will operate under the same logo of KR. At the beginning of 2004 some 50 stations will be refurnished," announced Władysław Serafin, the president of the National Farmers Association (KZRKiOR). He estimates that the cost of modernizing each gas station is about zł. 1 million, which gives a total of zł. 400-500 million. "We have completed negotiations with financial in stitutions and two investors," explained Serafin. He would not reveal their names, but mentioned that these are Polish companies outside the oil sector. In order to conduct negotiations with the investors, the association set up a company called Farmer, which is currently also negotiating terms of oil deliveries with, among others, PKN Orlen. (Puls Biznesu, pp. 1, 5) M.M.