PBG on verge of securing zł.400 million contract

PBG, a company specializing in constructing mining and transmission infrastructure for gas, oil, water and sewage, will soon debut on the Warsaw Stock Exchange, a move which it hopes will raise zł.80 million which will be used to help win further contracts in Poland and abroad. The firm is very close to securing a four-year zł.400 million contract to construct an underground fuel depot in Wierzchowice, said a Puls Biznesu source. "PBG has been chosen as a contractor, but the formal decision has not yet been made. Its offer was 10% cheaper than the one proposed by ABB. The decision should be announced by the end of the month," said a source in Polish Oil and Gas. PBG representatives refused to comment on the information. The firm expects to post a zł.16 million net profit on the revenues amounting to zł.205.3 million by the end of 2004. (Puls Biznesu, p. 10) M.M.