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Press conference of the New Board

On 13th October 2008 the New Board held a press conference to present the current status of the company and their plans for the future.
- I found the company in a good shape – said chairman Jarosław Siergiej while welcoming the journalists.

The guidelines of the investment policy for the next three years as well as the status of current investment were presented by Deputy Chairman Władysław Lisewski. Journalists asked mainly about two main investment projects: the West Pomeranian Logistic Centre and a container terminal at Ostrow Grabowski.

- The lease of such a large area for the Logistic Centre appeared to be very difficult. All the more that we expect a lot from our partners. We would like the companies that will work at the Centre to promote high cargo handling in the port. That is why we focus not only on using the site, but also the landing piers.

The Polish law is one of the main problems when it comes to negotiate with investors. Following a permission of the Finance Minister, the Szczecin and Świnoujście Ports Authority may lease the area for 30 years. Yet, the number of companies interested in buying the land is growing. Negotiations with a few partners interested in running their business at the Logistic Centre are in progress. Once they are bought to a successful end, first investors will appear.Container handling is steadily increasing. Last year, it reached 56 thousand TEU. This year the planned volume should reach about 62 thousand TEU.

A very important issue discussed with the journalists was the connection of our ports with their hinterland. It is important that with the ports’ turnover growing, road and rail traffic around should increase accordingly. This leads to transport ‘bottlenecks’. It is a problem that requires further analysis and consulting, because the ports are not able to handle it by themselves. One solution can be moving cargo ‘from roads to sea’, as specified in one of EU directives. This may not only improve road traffic, but also have a positive influence on the environment. Sea transport is the cheapest and the most environmentally friendly.

Deputy Chairman Paweł Adamarek described the financial situation in the context of the world financial crisis.
- We are aware that we work on an international market, and thus its problems can influence our financial situation. Our relations with banks are very good and we hope they will remain so in the future, said Deputy Chairman Adamarek. 
The Deputy Chairman pointed out that in the next few years the Company plans to invest PLN500 million. A part of that amount will come from bank loans.A very important project is the modernization of the ferry terminal in Swinoujscie. The most important action will be the extension of quay 1 to enable mooring of ships above 200 m in length. Another project involves modernising quay 6 and lengthening it. This, however, will be funded by the company itself.

In 2009, both financial and project related issues will be prepared to open the investment for implementation. The actual implementation of those will start a year later.