Ferry terminal may be bought
It is believed that the Bank Gospodarki Zywnosciowej (BGZ) might finance the PLN186m purchase of a ferry port at Swinoujscie in north western Poland. A final decision
will be made by the port authorities there at their shareholders meeting which is being called for 7 May.
The ferry port belongs to Polska Zegluga Baltycka (PZB) which is heavily in debt. It was originally build largely using state funds over a twelve year period for PLN154m. Since then it has been enlarged by around two and a half times and can service 810,000 passengers in transit, 150,000 cars, 690,000 rail cars and 2.6m tons of freight annually.
Another ferry terminal at Gdansk is also available but it is decidely smaller and has a value of PLN10m.
PZB is in no financial condition to maintain these termianls and that is why the state, which is the outright owner of the Kolobreg based operator, wants to sell it. This would give PZB a breathing space to get its affairs sorted out.