PKN Orlen to upgrade logistics at a cost of zł. 390 million

Over the next three years Płock-based oil concern PKN Orlen will invest zł. 390 million in logistics in order to reduce future costs of storing, transporting and shipping fuels. "We will modernize our infrastructure, but also think about new projects like pipelines," said PKN's Sławomir Golonka. According to analysts, PKN will have no problems in acquiring funds for such projects. "Every bank will grant a loan secured by Orlen's shares in Polkomtel for which the company might receive a minimum zł. 1.5 billion if it decided to sell them," said BDM PKO BP analyst Sebastian Słomka. Orlen is also looking for savings in its own logistics infrastructure and, "Last year we cut those costs by almost zł. 240 million," informed Golonka. In related news, PKN Orlen disposed of its 35% stake in telecom operator NOM for which it received zł. 111.5 million from the Polish Power Grid (PSE). (Puls Biznesu, pp. 1, 3) M.M.