PLK to turn to PKP for modernization investment support

Rail company Polskie Linie Kolejowe (PLK) intends to invest zl. 996.8 million in 2003 on the modernization of its network, which falls far below the amount required to adjust to EU standards, said PLK spokesperson Krzysztof Lancucki. To obtain the necessary financial resources, PLK intends to apply to its parent company ,PKP, for support. PLK hopes to receive some part of the revenues generated by PKP from this year's bond issue. In order to succeed in adjusting PKP's network to EU standards by 2020, PLK needs an investment capacity of zl. 3.8 billion annually. In 2003, PLK will receive zl. 198.6 million from the budget, zl. 241.7 million from the PHARE and ISPA funds and a further zl. 250 million from its own resources. An additional loan of zl. 206.5 million will be provided by the European Investment Bank. (Puls Biznesu, p.10 ) A.Z.