PKP railway operator turns to investments to rescue EU funds
October 12, 2012
Poland's railway operator PKP will likely support its subsidiaries in investments, including investments in rolling stock, with PKP Intercity railway operator being the most likely beneficiary, the daily Puls Biznesu wrote.
The plan, included in a draft bill presented by the Infrastructure Ministry, runs counter to previous plans for PKP, according to which the firm was supposed to extinguish its activities after paying off its PLN 4.3 billion debt.
Instead, it will use the surplus on asset sale to support investments, also in order to enable consuming as much of EU subsidies as possible, the daily suggests citing a source close to PKP. PKP has until 2022 to pay back its debt, the daily wrote.