19-09-02 The global engineering group Foster Wheeler said that its Finnish subsidiary Foster Wheeler Energia had secured a EUR 350 mm turnkey contract for two power plants from Ireland's Electricity Supply Board (ESB). The contract covered engineering, procurement and construction of the West Offaly and Lough Ree peat-fired power plants in the Irish Midlands, Foster Wheeler said.
"The contract further strengthens Foster Wheeler Energia's position as a turnkey power plant supplier, and follows successful bids for turnkey projects fired on coal in Poland, oil shale in Estonia, and demolition wood in Germany," Foster Wheeler said.

Source: Nordic Business Report ||Poland to fall short in privatisation revenues 18-09-02 Poland will fall well short of the PLN 6.7 bn in privatisation revenues in 2002 which it had set for itself as a goal in the 2002 budget, Treasury Minister Wieslaw Kaczmarek told. "The 6.7 bn privatisation revenues planned by the government will not be achieved," Kaczmarek told in Lublin.
Poland does not feel financially threatened by the turn of events. "I talked to [deputy Prime Minister and Minister of Finance Grzegorz] Kolodko and the Prime Minister about the possible upsetting of state revenues," Kaczmarek says. "But if these revenues will be realized next year, then the finance minister doesn't see any threats to public finances."

The failure to sell the G8 group of energy distributors in a series of exclusive talks, most recently with Germany's E.ON, drove the last nail into the sell-off plan coffin. "I have no replacement revenues for this."
"The privatisation of G8 will not be finalized this year," Kaczmarek said, confirming prior statements on the key energy sell-off. "The six investors from the short list will be able to place the offers again which will extend the process of privatisation by six months."

The originally shortlisted bids were Germany's E.ON, Belgium's Electrabel, Polish group El-Dystrybucja, Spain's Iberdrola and Endesa and Ireland's ESB. Germany's E.ON had been the third group to hold exclusive bargaining rights for the sell-off, after domestic group El-Dystrybucja failed twice and Spain's Iberdrola failed once.
Poland made what appeared to be a last minute attempt to juice the energy industry tree, agreeing to sell its remaining stake in the Polaniec power plant to its strategic investor Tractebel well ahead of schedule.