Szczecin heating plant shares sold with promises of further investments

The consortium making up the German gas concern Ruhrgas Energie Beteiligungs and the Polish representative branch of the German company MVV (MVV Esco Polska) has paid zl.108 million for 49.9% of the shares in the heat and power distribution company Energetyka Cieplna (EC) in Szczecin. The consortium has promised to invest zl.130 million over ten years in EC and to maintain its workforce unchanged for five years. The first investments will be used to develop and upgrade the pipelines distributing hot water for central heating systems. The Szczecin city hall, which received zl.108 million for the shares will invest the money on current city needs. The city hall will keep 35.1% of the EC shares, while employees will hold 15%. Ruhrgas is jointly committed with Bartimpex to construct a gas pipeline from Berlin to Szczecin. (Gazeta Wyborcza, April 2, p.27; Prawo i Gospodarka, April 2, p.3), M.T.