New $42 million power project inaugurated by Caterpillar

Caterpillar Power Ventures Europe B.V., owned by Caterpillar Inc., has launched the construction of an eco-friendly 37 megawatt power and heating plant at the cost of $42 million in the Starachowice special economic zone (SSE). The concern will also provide gas turbines for the plant. "Thanks to new clean technology and the stabilization of heating prices, the investment is certain to attract foreign investors," said Maciej Kozarzewski from the Strategic Consulting Group (GDS). Tuma Turbomach is the general contractor for the project. It will be assisted by Polish construction companies from the region. The new plant will be launched by the fourth quarter of 2004. The investors are trying to raise capital from environmental funds which will supplement finance raised from commercial loans. (Puls Biznesu, p. 4) A.Z.