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Negotiations on a concession agreement for the A1 motorway between Gdańsk and Toruń are still in progress between the Gdańsk Transport Company and motorway agency ABEA. Transport minister Jerzy Widzyk believes that the two parties will come to an agreement this month and the 152km stretch will be quickly under construction.
However the hardest part of the talks has yet to be touched. How much the state is going to contribute is the great unknown. State aid is all the more necessary as it is not believed that tolls will pay for the credits necessary.
GTC is unable to talk to the banks until the concession contract is signed. The main lenders will be the EBRD and EIB. These institutions will be able to fund up to 80 percent of the investment.
It is believed that the motorway will cost PLN3bn to build. Currently the capital of the company is only PLN75m. The shareholders of GTC, the roads authority GDDP, Bank Gospodarki Żywnościowej, the South African Intertol and American Bechtel will find the cash once the conditions of the credit agreement are known.