PKP makes millions from property sales

Polish state-owned railways, PKP, sold 316 units of property in 2013 for PLN 203 million, the company’s managing director, Jarosław Bator said on Monday. “The sales mark a 48 percent rise year-on-year,” Bator told journalists. The company also announced that in 2014 it plans to undertake its station renovation program. The cost of modernizing 24 stations will amount to PLN 421.7 million, of which PKP will invest PLN 162.2 million, with PLN 80 million from state coffers and PLN 179.5 million from EU funds. PKP is in the final stages of talks with developer Ghelamco for the construction of a new station and office space. The general renovation of the Warszawa Gdańska station, which serves suburban services, is also expected to kick off this year, with completion set for 2015. PKP’s Bator also said that revenue from station advertising had also risen, from PLN 4 million in 2012 to PLN 7.5 million in 2013.