PGZ to buy Naval Shipyard for PLN 224 mln

State-owned Polish Armaments Group (PGZ) was the only bidder in the tender for Naval Shipyard in Gdynia, currently in liquidation, with a PLN 224 million offer. The proposal was accepted by the shipyard's trustee, overseeing the liquidation process and approved by Gdańsk District Court. The decision still requires the approval of several state agencies, including the defense ministry. The tender offered perpetual rights to the use of a total of 30 hectares of land and ownership of buildings and infrastructure. The money from sale will be used to pay off shipyard's debts.