Sale of G-8 and Stoen to be competed this year with power stations to follow

The Treasury Minister, Wieslaw Kaczmarek, came under fire for foot-dragging on state sell-offs, yesterday. He said the ministry would take a step-by-step approach to selling power utilities to secure steady privatization revenues in the coming years. Kaczmarek told an industry seminar that the sale of two key power distribution firms, northern G-8 group and Warsaw-based Stoen would be completed this year. Kaczmarek said the sales of the two power distribution groups, which analysts say can raise $800 million, would be the last before the remaining 30 distributors are consolidated into five regional groups. Kaczmarek added that the Treasury would quickly seek investors for the Kozienice, Dolna Odra, Ostroleka and Stalowa Wola coal-fired power stations (Reuters)