Bartimpex seeking Akwawit stake

Alan Heath
opublikowano: 21-03-2002, 00:00

Leszno based Akwawit has been earmarked for privatisation at the beginning of the autumn by the treasury. Interested parties are currently seeing if the numbers crunch. It is rumoured that there are three companies considering the privatisation. The names of all have not been revealed although one is known to be gas giant Bartimpex which is said to be interested in biofuel production.

The amount to be raised from the sale is as yet unknown although the treasury has offered at least 51 percent and the share capital of the company is PLN40m.

Akwawit has excellent development possibilities in supplying bioethanol for fuels. However the success of this business will very much depend on a new law on ecofuels and what can be in them. A bill is currently being prepared by the agricultural ministry. The bill is currently at the consultancy stage and as yet not reached inter ministerial talks.

Akwawit claims that if the bill becomes law then the company will be able to double bioethanol production within four to five months. The company is currently producing 42m litres annually.

Akwawit is therefore the market leader in an area where last year only 65m litres were produced. The bill allows for four to five percent of petrol to be made up of bioethanol and producers of bioethanol will not have to pay excise duty.

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Podpis: Alan Heath