The Warsaw Voice » Business » News - February 9, 2018
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Fuel group to enter government projects
Listed fuel concern PKN Orlen will likely engage in government-promoted projects, including the construction of Poland's first nuclear power plant, sources close to the company tell the daily Puls Biznesu, pointing to changes in Orlen's catalogue of managerial goals made on February 2.
The new list of goals lacks reducing the company debt, while imposing on the management board a duty to "make investments" in the field of alternative fuels, including power generation-related projects, the daily remarks.
Orlen's current debt level is brushed off by DM BOS analyst Lukasz Prokopiuk and his DM mBank's peer Kamil Kliszcz; however, if this level is increased with a view to investing in a nuclear project, Orlen might find itself in trouble, they add.
Orlen will see first returns on such an investment no sooner than in ca. ten years, Prokopiuk warns.