Poland's largest coal power plant interested in stake in Bogdanka coal mine

Power plant Elektrownia Kozienice (EK) is interested in purchasing shares of coal mine Bogdanka. According to the Treasury Ministry, such capital consolidation of both companies could be the first step to creating a large energy complex in the southeast. It would be possible for four power distributors in the region to also take part in the enterprise in the future. EK is the largest power plant using coal in Poland. EK president Jan Wrona emphasizes that having shares in coal mine Bogdanka would safeguard the coal supplies to the company. Such a strategy could lead to faster privatization of EK itself. Deputy Treasury MInister Jan Buczkowski, says EK can at the moment afford to buy a minor stake in Bogdanka. The tender for an investor in Bogdanka should be called soon. Experts say Bogdanka will be sold for a price lower than its book value, which is about zl. 400 million. (Puls Biznesu, page 6)