Construction Begins On 'Young City'

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The construction of Mlode Miasto Gdansk (Young City Gdansk), an investment which will cost an estimated 2 billion zl, is about to begin.

Janusz Lipinski, president of Synergia 99, which manages the land in the city of Gdansk, projects the value of the investment to be even higher. The company is already in negotiations over six projects, and plans to finalize talks by the end of March. Alu-Ship, a company producing aluminum components for ships, plans to enlarge its production facility in the industrial part of the city. Another project is to sell a slipway to a German shipbuilding company. Synergia 99 is also in negotiations over four projects concerning the construction of offices, houses and commercial centers, investments worth a total of EUR 150 million. The names of the potential constructors have not yet been disclosed. Synergia 99 is also considering becoming financially engaged in the projects in order to have better control over them. In order to do so, the company is looking for an investor.

Source: Warsaw Business Journal

Jan.13.2005



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