PERN Przyjazn announces zl.1.1 billion investment plan

Fuel pipeline operator PERN Przyjazn has announced plans to invest more than zl.1.1 billion in its infrastructure expansion over the next five years. The Plock-based company also said it was considering submitting a bid in the privatization of its Slovakian counterpart, Transpetrol. Commenting on the expansion plans, Krzysztof Spandowski, president of PERN Przyjazn, said, "In connection with the plans to increase the processing of fuel by Polish and German refineries and the transit of fuel from Russian exporters, we will focus on improving the efficiency of the eastern part of the fuel pipeline, on the construction of pipelines, and on the expansion of storage facilities. We will also diversify our activities." Spandowski added that the projects would be financed from the company's own resources, combined with bank loans. Most of the investment, some zl.730 million, is expected to go into increasing the capacity of the Przyjazn pipeline, which runs to Plock in Central Poland from the country's eastern border. As to its diversification plans, PERN Przyjazn is considering becoming a fuel trader, a new venture that Spandowski says he wants to undertake in cooperation with a financial institution and fuel trading company. In addition, PERN Przyjazn plans to extend its telecom infrastructure and rent it to a company working in the telecom sector. (Puls Biznesu, p. 3) P.J.