The latest report by the United Nations Conference on Trade and Development (UNCTAD) reveals that in 2012 foreign direct investment (FDI) in Poland dropped 78.2 percent to USD4.1bn, which is the lowest level in the last ten years.

According to Slawomir Majman, President of the Polish Information and Foreign Investment Agency (PAIIZ), the statistics provided by the National Bank of Poland (NBP), which served as a basis for the estimates by UNCTAD, do not reflect the actual value of foreign capital invested in Poland. Zbigniew Zimny from the Financial Academy in Warsaw suggests that the UNCTAD relied on data from the first three quarters of the year.

According to his estimate, the total value of foreign investments in 2012 after all the suggested corrections should amount to USD10bn. The value of foreign mergers and acquisitions is reported to have dropped 91.7 percent to USD832m. The reduction reflects a global trend, as investors from developed countries have been withdrawing from foreign markets in the recent time. Meanwhile, the value of mergers and acquisitions made by Polish enterprises in foreign countries increased sevenfold to USD3.39bn.

Wyborcza.biz reports on the likely delay in construction of the LNG terminal in Swinoujscie. According to the news service, the delay in construction of the marine part of the terminal reaches six months and may have serious impact on the time of completion of the whole project.

The most serious problems concerned the extraction ceiling and technological platform, which had been scheduled to be completed in June 2012, but eventually were completed at the turn of 2012/2013. Since the delays prevent the commencement of further works, the investor may face a contractual penalty. Meanwhile, Treasury Minister Mikolaj Budzanowski stated on Wednesday that there was no threat to completing construction of the terminal by June 2014. Budzanowski asserts that the delay in construction of two gas tanks does not exceed two months.

 

 


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Related Project
Polskie LNG (PLNG)
Facility Type: LNG Owner: PGNiG SA (Polish Oil & Gas Co.)
Scope: New Construction Location: Swinoujscie Poland