Slupsk heating and power plant to cost Syndcraft an initial zl.38 million

Swedish-German energy group Syndcraft has agreed to pay some zl.38 million for a 51% stake in Energetyka Cieplna (EC), a combined heating and power plant in the northern city of Slupsk. The contract, which was signed yesterday, obliges Syndcraft to invest an additional zl.53 million in the development of EC over the next six years, and during that time also to increase the plant's capital by zl.30 million. Syndcraft will be entitled to four out of the eight seats on the EC supervisory board. The contract must still be approved by the Slupsk city council, as well as the Interior Ministry, the Treasury and the Office for Competition and Consumer Protection (UOKiK). Slupsk mayor Jerzy Wandzel told Puls Biznesu he will try to push agreement through at a meeting of the city council. (Puls Biznesu, p. 11) A.D.