Przewozy Regionalne saved

As many as 13 marshals of 16 voivodeships agreed to approve the restructuring plan of Przewozy Regionalne (PR) railway company. Poland's Industrial Development Agency (ARP) will invest PLN 750 million in order to rebuild the firm and pay its debts, the press reported. In line with the plan, PR will issue shares, which will be acquired by the ARP. As much as PLN 600 million will be earmarked to pay the debt, PLN 150 million will be channeled to the investment program. As the strategy assumes job cuts, the company may consider redundancy program. Additionally, unprofitable connections are to be canceled.