PKP railway to invest PLN 500m in electric traction modernization
October 18, 2013
PKP Energetyka, the power unit of the state-owned railway company PKP, is issuing PLN 500 million bonds to garner means for the modernization of its traction network.
The company signed a contract with state bank BGK and ING Bank Slaski for the bond issue program. PKP Energetyka said in a press statement.
The investments are required to adapt the traction to new fast trains Pendolino. The company's entire investment program amounts to PLN 1 billion. The bonds are due to mature on December 15, 2020.