Oil concern PKN plan zł 6. million investment over 3 years

Fuel concern PKN Orlen intends to invest around zł. 6 billion over the next three years, PKN's spokesperson Krzysztof Mikołajczyk announced yesterday. "Of the planned zł. 6 billion, zł. 3.5 billion will be earmarked for the production expansion, as well as the development of the logistical network. We intend to invest zł. 2.5 billion in the development of Orlen's retail sales, while zł. 200 million will support corporate centres" said Mikołajczyk. "These are ordinary expenses of an expanding firm. They are planned to be financed by current financial resources coupled with loans" said Mikołajczyk. PKN is interested in the privatization of Unipetrol from the Czech Republic, which will be launched by the end of 2003. The concern is also planning the acquisition of a 16% stake of Naftobazy, and Orlen is still willing to take over the Gdańsk Refinery. "If such possibilities arise the take-over will be a priority for us" said Mikołajczyk. (Puls Biznesu, p. 6) A.Z