Warsaw (Puls Biznesu) – The company starts selling lots. Homebuilding companies should welcome the news.
Operator ARP, a company owned by the Agency of Industrial Development (ARP), manages hundreds of hectares of land it had received it from companies restructured by ARP in exchange for subsidies. Along with the assets of restructured companies (including Huta Czestochowa or Huta Stalowa Wola steel plants as well as Gdynia and Gdansk shipyards, or Cegielskiego and Mesko plants), it received, however PLN 440m (EUR 121.9m) of debts.
“The intangible assets we own should be enough to cover 25 percent of the debts. According to the plans, we need to pay over PLN 96m of debts till the end of 2012”, Tadeusz Kochanowski, Operator ARP new CEO said.
Operator ARP has 600ha of land from Huta Czestochowa plus Elsen power plant. It also has PLN 280m of debts, out of which it is going to pay back at least PLN 58.8m.
“It may be much more, however. We are running talks with Spanish Endesa which wants to buy Elsen and 40ha of nearby land because it plans multi-billion investments. Zlomrex also considers acquiring land to buy a steel plant”, Tadeusz Kochanowski added.
However, there are doubts over Operator ARP activities. Halina Rozpondek, Citizens’ Platform MP, has recently said that the company does not try hard enough to encourage investments and it is guilty for the loss of about 1,000 new jobs. She mentions the example of investments plans of Belgian VPK Packaging Group which wanted to build a paper plant worth EUR 140m and employ 200 people. Tadeusz Kochanowski explains that the Belgians wanted to lower the value of the land. They also failed to find agreement to have the costs of including the land to the special economic zone in Katowice covered.
Operator ARP hopes also to get good price for lands and buildings close to the shipyards. Homebuilding companies should welcome the news. Operator ARP will also sell Euromedicus, health center for shipyard’s employees as well as Pol-Supply, a sea transport company. Both firms will also be put up for sale. Operator ARP CEO hopes to get about PLN 20m for each of them.
(PLN 1 = EUR 0.277)