Investor believes state should invest PLN 2bn in two shipyards

MG
opublikowano: 18-01-2008, 16:14

Warsaw (Puls Biznesu) – The state should provide PLN 2bn (EUR 556m) for Gdynia and SSN shipyards in order to encourage investors to buy the troubled firms.

 

Privatization of Stocznia Gdynia and Stocznia Szczecinska Nowa (SSN), Poland’s two biggest shipyards, may be very expensive for the state. Their finances are so poor that the state will have to invest up to PLN 2bn in order to encourage potential investors to buy them. This is at least what Przemyslaw Sztuczkowski, Zlomrex CEO interested in privatization of both shipyards, believes.

According to present plans, the state will provide PLN 515m of capital for Stocznia Gdynia to help it pay back its debts. They are so big, however, that this may be not enough.

“If the creditors change their minds, the shipyard will need PLN 1bn”, Przemyslaw Sztuczkowski said.

If his rival, Rami Ungar, believes the same, the state will have no other option.

 

Przemyslaw Sztuczkowski, and Amber, the company he founded to privatize shipyards, have no rivals as far as privatization of SSN is concerned. The only potential buyer says that without state aid there are no chances for privatization.

“It’s been no secret that the shipyard will generate up to PLN 1bn of losses. That’s why I hope that the state will participate to pay them back”, Przemyslaw Sztuczkowski said.

(PLN 1 = EUR 0.278)

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Podpis: MG

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