PKN Orlen gets some PLN 1bn loan from state bank BGK
December 23, 2013
Fuel group PKN Orlen got a long-term credit of up to PLN 1 billion from state special-purpose bank BGK for financing its energy sector investments in the frame of state investment program Polish Investments, PKN Orlen said in a press statement.
"The final date of credit repayment was set to December 2025," Orlen said. "The means will be used by the company mainly to support the realization of its energy strategy."
"Obtaining additional means enables the company to further diversify its sources of financing and extend the maturity of liabilities," CFO Slawomir Jedrzejczyk said, as quoted in the statement.
Orlen's strategy in the energy segment envisages, among others, the already launched construction of a combined cycle block in Wloclawek, northern Poland and potentially building a similar block in Plock, central Poland.