Polish Turkish East-West Development Consortium Epit signed a letter of
intent on Oct. 16 with Biala Podlaska city council for the construction
of a $2.3 billion infrastructure project, including transport,
apartment, trade and entertainment facilities in the region. Biala
Podlaska president Andrzej Czapski commented, "Epit has recently filed a
rental application for 70 hectares of land from the State Treasury.
Although the land is owned by the Treasury, it remains in the hands of
city council to make the final decision, which will be announced after
consultation with the voivod." In the letter of intent Epit declared
that the investment would be completed between March 31, 2001 and
March31, 2004. (Puls Biznesu, p.6) P.J.
