Kulczyk to invest in Belarus energy

Poland's richest business Jan Kulczyk has signed agreements to invest in the Belarusian energy sector.

Kulczyk Holdings has signed a deal with Bielenergo, Belarusian energy company, for the construction of a coal power plant and will be the biggest Polish investment in Belarus, worth 1.5 billion euro.

Kulczyk Holding and Bielenergo will have equal share in the plant.

"The construction will begin at the turn of 2011 and finish at the turn of 2015," Marta Wysocka, spokesperson for Kulczyk Holding told the Reczpospolita daily

Energy from the Belarusian plant will also be sent to Poland via an energy bridge connecting the towns of Ros and Narew. The plant will use Polish coal from the Bogdanka colliery.

Kulczyk Holding has recently signaled that it intends to expand into oil and gas, mineral resources, power generation and infrastructure sctors. Recently, the company tried to take over Energa, the Polish energy company and is planning to purchase shares in Enea, another energy company but is also interested in Lotos, the Polish oil concern. (mg)


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