The German Oiltanking has confirmed that it will bid in the privatisation of the fuel storage Naftobazy companies. If this fails then the company will open its own facilities. It has already begun the construction of a chemical storage facility in the port of Gdańsk that could cost as much as EUR20m.
The fuel storage business is likely to be a good investment in Poland as the country prepares to meet EU requirements.
The company has also wanted to build facilities for engine oil and diesel in Gdańsk for some time but the treasury has always blocked this move claiming that it would cause a decline in the value of the Gdańsk refinery. Last October the port authorities put in a bid to increase the size of the fuel terminal in their own name. No reply has been received from the central government. The treasury claims that it is consulting with the economy and infrastructure ministries on this matter. Even if Oiltanking received permission from the treasury today, the terminal would not be on line until 2004 — 2005.