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Warsaw given more time

Warsaw given more time
The European Commission has for the third time agreed to grant Warsaw more time for the sale of the Gdynia and Szczecin shipyards.

The European Commission has for the third time agreed to grant Warsaw more time for the sale of the Gdynia and Szczecin shipyards.

The European Commission has for the third time agreed to grant Warsaw more time for the sale of the Gdynia and Szczecin shipyards. The deadline for the completion of the privatization process was not specified, however. Deadlines have been missed to sell off the assets of the two shipyards in July and August after the European Commission ordered them to be sold off last November. Two different investors have reneged on the initial promise to buy the assets after they were auctioned off in May.

This time the commission has made it clear it would require monthly progress reports. Also, part of the revenue raised from selling the two shipyards is to cover government subsidies given to the plants, which the commission has deemed illegal in its November ruling.

If the requirements are not complied with the case will be referred to the European Court of Justice, said Jonathan Todd, spokesman for the European Commission.

Meanwhile, Prime Minister Donald Tusk has said he would not dismiss Treasury Minister Aleksander Grad, despite the fact that the sale of the two shipyards, in Gdynia and Szczecin, to a Qatari investor has not been finalized.

www.TurkishMaritime.com.tr

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