Oil firm announces plans to research biocomponents in the face of competition

"Currently 16 new installations for the production of fuels with biocomponents are being constructed throughout Europe. We do not want to wait until foreign companies fully take over the European market," said Grzegorz Ślak, president of RT. In 2005 the minimum amount of biocomponents in fuels should amount to 2% and it will increase by 0.75 percentage points on an annual basis by 2010. In order to carry out the investment, the company will apply for subsidies amounting up to 35% of the total investment outlays. RT should post a profit of zł.40 million in 2005 despite a poor Q1 due to the low Euro exchange rate. (Parkiet, p. 5) M.M.