PKP Energetyka to invest heavily in power grid

PKP Energetyka will spend some PLN 500 million annually to modernize and develop its power grid, which  supplies power to the Polish trains, Przemysław Obłój from CVC Capital, the company that will soon become the owner of PKP Energetyka told the Polish Press Agency.

"New passenger and cargo trains require a more resilient power grid, so that - to put it colloquially - the fuses don't blow, when a train goes," Obłój said. He also assured that CVC Capital will focus on developing the company in the coming years. "We will think about listing the company in a few years time." The Ministry of the Treasury and London-based private equity CVC Capital Partners signed a preliminary agreement regarding the sale of PKP Energetyka, the power unit of Polish state railways (PKP) for PLN 1.4 billion in July 2015.