Piechota hints at support for Stocznia Szczecinska loan

Economy Minister Jacek Piechota said yesterday he does not rule out the possibility of helping Stocznia Szczecinska shipyard in its efforts to secure additional bank credit. "We would have to look for solutions that would include converting debt into shares," Piechota commented. He also said the banks were likely to delay a decision on a loan, rather than deciding immediately to provide the $40 million that would allow the shipyard to maintain its financial liquidity and continue with its operations. He admitted that the absence of any decision within the next few days might "endanger the fulfillment of agreements already made by the shipyard". Stocznia Szczecinska recorded a loss of zl.98 million last year and owes its creditors some zl.280 million. (Prawo i Gospodarka, p. 5) M.K.