Question marks remain over planned $6 billion investment

Environment Minister Stanislaw Zelichowski has granted initial permission to a Polish-Turkish company Epit & KRWZ, Vahap Toy for a $6 billion investment on a 508 hectare plot of land near Biala Podlaska. The company has promised to build an airport, hotel, casinos, an olympic stadium, a formula one racing track as well as a replica of the Eiffel Tower and seven wonders of the world, but is refusing to disclose how it is going to finance the investment. Earlier, Toy announced that he would reveal who is financing the project after he receives a green light from the government. This would be the largest single foreign investment in Poland. Zelichowski remains skeptical about the investor. "He is promising 40,000 new jobs and to invest several billion dollars". State security agencies examined Toy and his partners but declared that the firm cannot afford the investment. "The Polish Foreign Investment Agency (PAIZ) wanted to conduct an audit of Epit & KRWZ but found data was lacking," said the Minister. Toy announced that the airport is being sponsored by a consortium, "Whose capital is as large as the State budget". (Gazeta Wyborcza, Sept. 7-8, p. 1) A.Z.