Warsaw (Puls Biznesu) – The well-known businessman will invest in ship building. He has one provision, however – he wants the state to pay for unprofitable contracts and old debts.
Mostostal Chojnice which has exclusive rights to negotiate the privatization of Stocznia Szczecinska Nowa shipyards, is founding a consortium. It has already reached agreement with Ulstein Verft of Norway. Recently, its representatives have met Zbigniew Jakubas, one of the most popular stock investors in Poland, and the 30th one in the ranking of the richest Poles. Several weeks ago, he sent a letter to the ministry of the treasure and said he was interested in the shipyard from Szczecin.
“I am interested in capital engagement in the shipyard. Via one of my companies I may join the consortium with Mostostal Chojnice. I have one condition, however. The state provides funds to cover losses which are and will be generated because of unprofitable portfolio of contracts signed in the past which are to be realized in the years 2008-10”, Zbigniew Jakubas said.
In 10 days, he is meeting Ulstein Verft representatives. He does not reveal what support he expects. Amber, the former potential partner for SSN, wanted PLN 600m (EUR 186.3m) of subsidy. Representatives of the ministry have recently suggested that Mostostal Chojnice wants three times less, over PLN 230m.
Meanwhile, the European Commission does not like any further state subsidy unless investors and the state prove that the shipyard will come out of the red and will never ever ask for public money.
(PLN 1 = EUR 0.310)