Power plant to receive $392m for modernization by 2004
Patnow II power plant in central western Poland, a member of the
Patnow-Adamow-Konin (PAK) group, yesterday signed a $392 million long-term
loan deal, according to Elektrim, which holds a 38.46% stake in PAK. The
14-year loan was granted by a bank consortium consisting of the EBRD,
Citibank and Westdeutsche Landesbank Girozentrale. It will be used to
modernize Patnow II and construct a brown coal bloc with a power capacity of
460 megawatts, the largest of its kind in Poland. The plant will fulfill all
the necessary ecological requirements and is due to begin operating by
September 30 2004. PAK currently provides 11% of Poland's energy supply.
(Gazeta Wyborcza, p. 19; Puls Biznesu, p. 4) M.T.K.
