According to sources, Rotch Energy (RE) could be excluded from the tender for the privatization of Gdañsk Refinery (RG).

Rumors are circulating that several meetings of Nafta Polska, the Treasury Ministry and PKN Orlen took place without the British consortium. “The parties present at the meeting were wandering if RE is essential in the transaction” said a privatization insider. “We are a guarantee of the realization of the investment program in the refinery. Together with PKN Orlen, we have drafted the best purchase and capital increase offer worth $270 million. The envisaged financial support for RG’s expansion reaches $330 million,” said RE’s representative.

RE does not exclude that in the event of its elimination from the bid, it will demand compensation from the Treasury Ministry. The possibility of RE’s exclusion from the game would mean the necessity to annul the tender, an option which PKN Orlen disapproves.

(WBJ 17.iii.03)