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PGNiG to consolidate and float oil-related services

"Currently they are too small. One unsuccessful contract might be dangerous for them. By merging them, we want to strengthen their potential and improve economic efficiency," said Mirosław Szkałuba, deputy president of PGNiG in charge of restructuring the firm.

Within the next few years these companies will need zł.900 million. "Due to its tense investment budget, PGNiG is not capable of providing [necessary funds], while their credit ability is limited," said Mirosław Szkałuba.

He also added that due to the planned restructuring of these entities, it might be necessary to change employment levels, but for the time being no further information was provided.

Source: Puls Biznesu (M.M.)

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