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The Warsaw Voice » Business » February 9, 2011
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SPEC Utility Plans over PLN 1bn Capex in Years 2011-2015
February 9, 2011   
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Warsaw-based heating company SPEC, whose privatization will be launched shortly, plans to spend over 1 billion zlotys on capex in years 2011-2015, CEO Michal Machlejd told PAP.

"In years 2011-2015 we are planning to spend some 1 billion zlotys on investments, out of which 80% will go to market development, modernization of existing and construction of new heat distribution networks and improvement of energy efficiency," Machlejd said.

The city of Warsaw announced launching the process of privatization of heat distributor SPEC last week. The firm generated 1.3 billion zlotys in net sales and 36.9 million zlotys net profit in 2009.

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