PKP looking to secure the financing for new investments

Polish State Railways (PKP) is in talks with the European Central Bank on a loan to finance the purchase of the rolling-stock, and to renovate some of the trains it already owns. The company plans to buy 30 double-decker cars that would be used for Warsaw link with Łodź and 25 rail carriages supporting the Wrocław-Poznań-Gdynia connection. The PLN 465m the company has asked for is also intended for the renovation of 68 trains. “The loan is to secure the funds for our own contributions, but we’re considering various financing options. That’s why we talk with all different institutions”, said Małgorzata Sitkowska. PKP is also in talks with Industrial Development Agency (ARP), the owner of the Ponań’s Rail Vehicle Factory (FPS). PKP’s competitors are none too pleased by these developments, calling any loan that came out of the talks unfair. “If the agency (ARP) provide financing for PKP’s purchase and FPS win the contract for the projects, we will protest,” said one of them.