PKP Intercity confirmed as first railway privatization

According to these plans, initial railway privatization will involve PKP Intercity, the fastest growing company in the PKP group. "Firstly we have to raise the company's value. The investment plan envisages expenditures of about zl.1 billion in purchase and modernization of rolling stock within three years.There is already corporate consent for taking on liabilities of zl.0.5 billion for this purpose," said Polaczek. Out of this sum, zl.0.2 billion will be obtained from a loan, while zl.0.3 billion will come from PKP Intercity's own funds, such as its financial surplus of about zl.140 million annually. Apart from other innovations, such as a smoking ban and refurnishing of restaurant cars, the company is planning to develop customer service centers and refurnish the VIP room at the Warsaw Main Train Station.(Puls Biznesu, pp.1, 10) M.M.