Alstom demands bankruptcy for Polish Electrim

21st February 2005, Comments 0 comments

WARSAW, Feb 21 (AFP) - The French engineering group Alstom said Monday it had asked a Warsaw court to declare Polish electricity and telecoms company Elektrim insolvent for allegedly failing to fulfil contractual obligations to Alstom for modernising a power station, the group said Monday.

WARSAW, Feb 21 (AFP) - The French engineering group Alstom said Monday it had asked a Warsaw court to declare Polish electricity and telecoms company Elektrim insolvent for allegedly failing to fulfil contractual obligations to Alstom for modernising a power station, the group said Monday.

"We demand that Elektrim pay its debt to us. Payment was due in April last year at the latest," Alstom Power spokesman in Poland, Marek Szelewicki, told AFP.

He did not give details as to the amount of the debt he said is owed by Elektrim.

"We also want to discuss with Elektrim amounts due following the suspension in April 2003 by Elektrim of the project," said Szelewicki, adding that "Elektrim is stubbornly refusing to talk."

Elektrim was unaware of the action taken by Alstom, a spokesman for the Polish company told AFP.

"We have not been told about the request to have us declared bankrupt and have no details," said Tomasz Matwiejczuk.

Alstom signed a EUR 450 million (USD 587 million) contract in 2001 with the Polish electricity company to build a new 460 Megawatt generator in the power station at Patnow, in central Poland.

The Patnow power station is run by ZE PAK, in which Elektrim holds a nearly 39-percent stake, with the state owning 50 percent and the remainder being in the hands of employees.

ZE PAK's power stations, which also include plants at Konin and Adamow in central Poland, generate 2,738 Megawatts of electricity.

Szwelewicki insisted that "Alstom Power wishes to continue with the work and is prepared to hold talks with Elektrim."

© AFP

Subject: French News

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