PKE closes in on massive Łagisza investment

On October 12 the company's general shareholders' meeting will discuss a bonds issue that could finance the investment. The final decision will be made by the State Treasury, which owns an 85% stake in the company. The estimated value of the issue will amount to zł.600 million. According to Puls Biznesu sources, the company is already in talks with the financial institutions that are to prepare the issue. "The bonds issue will be the last link that will allow us to ac cumulate the necessary capital for the construction of the power block," said Stanisław Tokarski, PKE's director for strategy and management. The company's board hopes that construction will begin this year. The building of a new power block in Łagisza is an important element of PKE's strategy concerning its adjustment to EU standards. (Puls Biznesu, pp. 1, 6-7) E.B.