Treasury allegedly looking to establish sugar holding by H1 of 2001

The Treasury is apparently looking to establish Polski Cukier (PC), a sugar holding, by the middle of this year. Though pro-Invest advisers, charged with preparing the sector's privatization, have not completed their research, a Treasury working group has already declared that such an entity would be economically feasible. However, to remain competitive PC would have to produce no less than 850,000 tonnes of sugar yearly, an amount which surprises supporters of such a holding, who had put this figure at 700,000 tonnes. Still uncertain is how to come up with the $2 billion - $2.5 billion needed to carry out further restructuring of the sugar industry to make its exports competitive. Insiders maintain that this sum of money could only be brought together by powerful investors - for whom such a holding would seem to be less attractive. (Prawo i Gospodarka, Feb. 3-4, pp.1,2)