Six companies enter race for 10% stake in Krakow-based power plant

The State Treasury announced yesterday that six local and foreign companies have placed initial offers to buy at least 10% of shares in medium-sized Skawina power plant, operating in Krakow. Bidders included local power and heating plant Krakow, controlled by Electricite de France, French SNET and a unit of U.S. Public Service Enterprise Group; Warsaw-based EC Energy Sp. z.o.o.; Polish privately owned Enpol; and Central and Eastern Europe Power Fund. Skawina is a hard coal-fuelled plant, supplying 20% of the city of Krakow's total power. The company recorded 1999 net profits of zl.1.1 million on sales of zl.243 million. (Reuters) M.T.