PKP will receive syndicated credit for PLN 700 mln

Polskie Koleje Państwowe (PKP) signed a credit agreement with three banks for a total of PLN 700 million. Out of the total amount PLN 250 million will be used for investments and the rest PLN 450 million are earmarked for repayment of previously obtained financing, PKP CEO Krzysztof Mamiński said on Friday. The agreement was concluded with Pekao, PKO, and BGK. Each of them contributed an equal part of the credit. The credit would allow implementing the program of stations modernization, with total cost at PLN 1.5 billion, Mamiński said. The new credit is valid until the end of 2022, he added.