Orlen makes own bid for Możejki but still open to partnership

"We are convinced and we have heard opinions that our offer is very good. As a result of the merger, the largest petrochemical group in this region of Europe will appear," said Igor Chalupec, president of Orlen. Last week he visited Lithuania and met with the country's Prime Minister, during which he pledged to invest $1 billion in the modernization of Możejki. Other offers were submitted by TNK-BP, Kazakh KazMunaiGaz, Russian Lukoil, Russian Bazowyj Element and Austrian Baltic Holding. According to Russian news wire wiedomosti.ru, the highest bid of over $1 billion was placed by the Kazakh company. In the meantime, over the next three years Orlen is planning to purchase about 250 gas stations in Germany. According to the company, this would carry costs of EUR 81 million and this investment should contribute to achieving the strategic goal of controlling a 10% stake in that market by 2009. (Parkiet, p. 3) M.M.