The Polish Development Fund, the owner of PKL, emphasizes that the development of investment projects in the region remains a priority, but the financing model based on the stock exchange debut was a key element of the plan. “We are currently analyzing the scope, schedule and sources of capital. At this stage, however, it is difficult to talk about binding declarations” — said Maciej Buczkowski from the PFR press office.
The rest of the article below the video:
The decision to withdraw from the debut was announced at the end of January during a press conference in the Sejm, attended by Deputy Prime Minister Władysław Kosiniak-Kamysz. As Buczkowski explained, the original plan assumed financing of a multi-year investment program in Podhale worth more than PLN 500 million.
Investments in Podhale are questionable
PFR emphasizes that despite abandoning the stock exchange scenario, key projects for the region remain planned. “The intention of PKL, expressed during meetings with local government representatives, was to implement a long-term investment program, which was to contribute to the increase in the attractiveness and development of Podhale” — emphasized Buczkowski. He added that the projects were aimed at strengthening the local economy, creating stable jobs and developing tourist facilities.
The planned investments include the modernization of ski infrastructure at Kasprowy Wierch, the construction of a tourist service center in Kuźnice, the development of infrastructure at the lower station of Gubałówka and the creation of ecological cable transport in Zakopane. Particular attention was paid to the project of connecting Kuźnice with the railway station or the Jana Pawła II roundabout and the construction of the Galicowa Grapa tourist and ski center in Poronin.
Opposition from local governments
The decision to cancel the debut was a consequence of the opposition of Podhale local governments. PFR emphasized that the stock exchange debut was supposed to be only a way to raise capital, and not a sale of the company or loss of ownership control. “We conducted an open dialogue and presented specific, substantive proposals that responded to the needs of the region. Despite this, there was clear opposition from the local government,” Buczkowski explained. He added that the lack of a common position made it impossible to issue shares.
PKL as a key player on the tourism market
Polskie Koleje Cables manages strategic tourist facilities in the region, including cable cars on Kasprowy Wierch, Gubałówka and Butorowy Wierch in Zakopane, as well as ski resorts in Krynica-Zdrój, Szczawnica, Zawoja, Międzybrodzie Żywiecki and a cable car over the dam in Solina.
