Stoen plans services for heat, water and gas delivery

Warsaw-based electric power distributor Stoen has announced long-term plans to expand its services to heat, water and gas deliveries, according to Krzysztof Konaszewski, the company's president. In order to transform itself into a multi-utility concern, the enterprise needs a significant amount of resources to finance the forthcoming purchase of units supplying the specific utilities. However, the company will not be able to make such an investment from its own funds, used mainly for financing its internal development. Thus Stoen needs additional funds provided by an external investor after the company's privatization. In thoses circumstances, the planned change of Stoen's privatization date to the last quarter of 2002 may affect its competitiveness in the domestic market. (Prawo i Gospodarka, May 19-20, p.3) M. S.-C.