Shadow hangs over shipyards, again

4th September 2009

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A final deadline passed on Monday for payment to be made for purchase of the Szczecin and Gdynia shipyards, clouding the future of those employed at the facilities. The Qatari government-owned Qatar Investment Authority had stepped in and pledged to make efforts to meet the deadline after the original buyer, Qatari-based QInvest investment fund, had earlier twice failed to make payment.

QInvest will forfeit a PLN 36 mln bid bond payment it made when it agreed to purchase the shipyards, and will be obliged to pay additional penalties and charges, Treasury Minister Aleksander Grad said during a press conference on Monday.

The government will likely have to begin the tender process once aga ...

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