Warsaw (Puls Biznesu) – The new state bill provides USD 150m of state guarantees annually for the Polish shipyards. The latter prefer not to be subsidized.
The representatives of the government, the Agency of Industrial Development (ARP) and its subsidiary – Polish Shipyards Corporation (KPS) are preparing the new strategy for the shipyards from Szczecin, Gdynia and Gdansk. The ninth bill already will have to be approved of by the cabinet and the European Commission. The program for the years 2006-10 provides that the shipyards wills still receive public subsidies although the plans three years ago said that it would end this year.
“During the transition period, i.e. the first 2-3 years of implementing the restructuring program, the shipyards are allowed to use state-backed bonds worth up to USD 150m. This kind of public subsidy will be included in the restructuring programs of the shipyards, which will be notified by the EC”, the bill reads. The funds concern annual help.
The representatives of the shipyards would rather not receive public subsidies.
“We are going to base on commercial credits and KUKE exports guarantees”, Andrzej Stachura, Stocznia Szczecinska Nowa CEO said.
The EC has doubts whether KUKE, which is state-owned agency, is not just another kind of public subsidy. Polish experts believe, it is not.
Another point of the strategy are investments. The bill provides for PLN 700m (EUR 177.8m) within four years. Andrzej Stachura said that his company will spend about PLN 200m. The program of Rami Ungar, the potential investor of Stocznia Gdynia, provides for over PLN 200m of investment. The projects in Gdansk depend on its investor.
(PLN 1 = EUR 0.254)