Ministry must first secure agreement from Elektrim for ZE PAK investor

If the State Treasury decides to introduce a new investor to the ZE PAK pow er plant, than it must convince Elektrim about the deal as it holds 37% sta ke in the plant. "The Treasury is negotiating the sale of a 50% stake in PA K," said Deputy Treasury Minister Andrzej Szarawarski. However, he added th at these are preliminary talks and would not go into any detail. "Without t he participation of Elektrim there is no chance for introducing any new inv estor, as the contract Elektrim signed with the Ministry means they must be first consulted over such a sale," a source told Parkiet. If the Treasury w as to override its agreement with Elektrim, than it could face substantial fines far exceeding Elektrim's investment in the plant of $200 million. (Pa rkiet, p. 3) M.M.