Mitex to build two hotels in Kraków for sister firm Echo for zl. 42 mln.

Kielce-based construction company Mitex signed a zl.42.6 million contract with Echo Investment for construction of two hotels in Kraków. Construction is scheduled to be completed by November 10, 2001. Mitex and Echo are both controlled by the same investor and Mitex is Echo's premier contractor, having carried out 37% of Mitex' contracts in the first half of this year. Mitex forecasts revenues of zl.570 million this year and a net profit of zl.33 million. In the first nine months of this year it has recorded revenues of around zl.421 million, netting zl.36 million in that period. The profit is partly due to zl.9.5 million in dividends of Mitex-Bud, Mitex' subsidiary. (Puls Biznesu, p.6) J.K.