PKP Cargo given PLN 500 mln credit

PKP Cargo, a Polish state-owned cargo transportation company has been granted PLN 500 million investment credit from Bank Gospodarstwa Krajowego (BGK), the company announced in a press release on Friday. The money will be utilized to finance the repair and modernization of locomotives and cargo railroad cars, the report said. PKP Cargo is obliged to repay the credit by end March 2021. According to president of PKP Cargo Adam Purwin, the credit will allow the company to maintain the current rolling stock. The saved amount of money, on the other hand, will contribute to the company’s acquisitions in the future.