These Angels Mean Business
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A partial agreement with Port terminals are Techeye talks beach unions means miner JSW planning over z∏.1 billion fashion and summer could debut on time in expansions gadgetry 5 10 31 WWW.WBJ.PL WWW.WBJ.PL VOLUME 17, NUMBER 18 • MAY 9-15, 2011 . z∏.12.50 (VAT 8% included) . ISSN 1233 7889 INDEX-RUCH-332-127 Since 1994 . Poland’s only business weekly in English REAL ESTATE Lokale Immobilia These angels mean business WBJ presents a special 8-page COURTESY OF MAYLAND REAL ESTATE OF MAYLAND COURTESY • IGI’s Solaris Center supplement on the • Bella Dolina mall state of angel • Guy Perry interview investing in Poland 21-24 13-20 Where the grass is green Environment Minister Andrzej Kraszewski talks about the balance between preserving Poland’s lush nature and fueling economic growth 8-9 A guide to Polish business and industry Przewodnik po polskim biznesie i gospodarce General contractors 26-27 In this issue News . .2-4 Industry News . .5-6 Listed Firms . .7 Interview . .8-9 Business Environment . .10 Opinion & Analysis . .11 Angel Investing in Poland . .13-20 Lokale Immobilia . .21-24 The List . .26-27 Markets . .28 Business Community . .29 Leading to bin Laden Hooligans cause havoc Arts & Culture . .30 Last Word . .31 The trail to Osama bin Laden reportedly Last week’s Polish Cup Final match ended in began with al-Qaeda interrogations at a riot; PM Tusk says he will have none of this secret CIA prisons in Poland 3 for Euro 2012 4 ¸UKASZ MAZUREK/WBJ/SHUTTERSTOCK A GUIDE TO POLISH EXPORT is AVAILABLE NOW! To order: Please contact us at +48 22 639 85 68 or [email protected] 2 www.wbj.pl NEWS MAY 9-15, 2011 Portugal gets IN THE SPOTLIGHT Numbers in the News €78 billion bailout The Nord Stream pipeline z∏.3 million Portugal has agreed to a recent years, Nord Stream is is how much Hanna Gronkiewicz-Waltz, the mayor of €78 billion financial being completed despite envi- Warsaw, has in Polish bank accounts, rescue deal with the IMF ronmental concerns of the Rzeczpospolita reported and the EU, making it the European Parliament and the third euro zone country to objections of Poland and the agree to a bailout. Baltic states, which see the 37% According to the package, project as running against €12 billion – some 15% – their political and economic of shares in BG˚ will be sold by the Treasury in a of the funds will go interests. public offering due to be completed on May 27 towards shoring up the It has been argued that the country’s banks, which pipeline will deepen Europe’s will have to significantly dependence on Russian gas 1.5 million increase their capital OF NORD STREAM COURTESY and weaken the position of over the next 18 months. transit countries such as people attended the beatification of John Paul II The Nord Stream consortium security of the privately Poland and Ukraine. Its con- at the Vatican City on May 1 Grad to resign last week finished laying the financed €7.4 billion Nord struction was possible due to first of its two planned gas Stream project providing a the support of prominent Ger- this year pipelines on the Baltic Sea fixed link between the Euro- man and Russian politicians, z∏.35 billion bed, between the Russian pean gas grid and one of the and Poland’s Foreign Minister Treasury Minister town of Vyborg and Ger- world’s largest gas reserves in Rados∏aw Sikorski once is the total value of debt held by Polish households Aleksander Grad has many’s Greifswald. Three sec- Russia for at least 50 years,” famously likened the project announced that he will tions of the 1,224 kilometer Matthias Warnig, the manag- to the 1939 Molotov-Ribben- Quote of the Week resign from his post after scheme are now expected to ing director of Nord Stream, trop Pact, which divided Polish this autumn’s be joined together underwater said in a statement. territory between Russia and “We aren’t building stadiums parliamentary elections, in the summer and come “At a time when recent Germany. irrespective of whether online by the end of the year. world events have led to The Nord Stream consor- to host medieval customs” his party, Civic Platform Construction on the second increased concern about tium came into being in Prime Minister Donald Tusk comments on hooliganism at Polish soccer match- (PO), wins or not. “Every Nord Stream pipeline is sched- nuclear energy and energy November 2005. Its largest es, after suggesting that league games should be played to empty stadiums if it head of such a gigantic uled for completion in late imports from North Africa, shareholders are Russia’s can’t be brought under control organization as the 2012. When the twin lines our major new infrastructure Gazprom, which has a 51 per- Treasury Ministry, which become operational, Nord project takes on more impor- cent stake in the project, and manages a huge amount Stream will have the capacity tance for both Europe and Germany’s Wintershall and E. Figures in focus of assets and firms, to transport a total of 55 billion Russia,” Mr Warnig added. ON Ruhrgas, both of which Wage disparities should inform the market cubic meters of gas per year. One of the most controver- have 15.5 percent stakes. Average monthly gross wage in Poland in Q4 2010, when he will leave,” Mr “Europe will soon have the sial investments in Europe in Adam Zdrodowski by regions (in z∏.) Grad said in an interview with Onet.pl. Mr Grad 5,000 said he felt that “running On WBJ.pl the ministry for one 4,000 [parliamentary] term is definitely enough.” Documentary delight 3,000 th Through May 15, the 8 edition of the Planete Doc Film Festival is 2,000 Poland’s on in Warsaw’s cinemas. The festival is among very few of its kind 1,000 millionaire in Europe, and presents a number of award-winning documen- taries from around the world. WBJ.pl selected some of the must- zł mayors see flicks. Log on to watch the descriptions and trailers and Central South Northwest North East The country’s richest decide for yourself. mayors are also leaders of Poland’s largest cities, Source: Central Statistical Office reports Rzeczpospolita, DATELINE citing a recent analysis of Company index property statements.The May Agroton ........................7 Handuk Consulting Nest Oil Group ............7 mayors of Warsaw, Gdaƒsk, Kraków, 8-11 HR CONGRESS 16-18 EUROPEAN ECONOMIC CONGRESS Alterco ........................22 Limited ......................22 Nord Stream ................2 th Event: Most important economic event in Central Wroc∏aw, Olsztyn, Event: The 40 IFTDO World Conference & Exhibi- Anti ............................28 HSW Stalowa Wola ......6 Optimus Pascal Europe. Location: Katowice. ww.eec2011.eu Poznaƒ, Szczecin, tion international HR Congress & Expo. Apeiron Synthesis ......19 IGI ..............................23 Location: Hotel Marriott, Warsaw Multimedia ................17 Rzeszów and Gorzów 19 COIE CONFERENCE Arie E&P Company......7 Ipopema Securities......7 Wielkopolski have each www.iftdo2011.com Organic Event: Inauguration of the Investor and Exporter Arvato Services Irish amassed personal wealth Farma Zdrowia ..........13 10-13 TRANSPORT LOGISTIC EXHIBITION Service Center of the Âwi´tokrzyskie Voivod- Polska ........................24 Investment Group ......23 of more than z∏.1 million. ship Marshal’s Office. Location: “¸ysogóry” Panattoni Europe ......22 Event: International Exhibition for Logistics, Mobili- Astarta..........................7 IVG Hotel, Kielce. www.sejmik.kielce.pl Petrolinvest ..................6 ty, IT and Supply Chain Management. Bank Gospodarki Institutional Funds ....24 Analysts: Lotos Location: Messe Munchen International PKN Orlen ..................28 20-22 INTERNATIONAL MBA ALUMNI CONGRESS ˚ywnoÊciowej ..............7 Jastrz´bska Spó∏ka www.transportlogistic.de Event: Aimed at the integration of MBA students PKO BP Inwestycje ....24 sale unlikely Bank Gospodarstwa W´glowa ......................5 and alumni from all over the world. Location: Polcolorit....................28 10-13 AUTOSTRADA-POLSKA Kraków. ksb.uek.krakow.pl Krajowego ............20, 21 JSK Architekci............23 Unnamed sources told th Rzeczpospolita that four Event: 17 International Fair of Road Construction Bank Pekao................28 Kawasaki....................31 Polimex-Mostostal ....28 Industry. Location: Kielce Trade Fairs Russian oil concerns are 24-25 REAL VIENNA BRE Bank ..................28 Kernel ..........................7 Polnord ......................24 www.targikielce.pl Event: The Real Estate and Investment Fair focused interested in state-owned Calatrava Capital ......28 KGHM ....................5, 28 on Central & Eastern Europe. PZU ............................28 refiner Lotos. Two 10-13 TRAFFIC-EXPO – TIL Location: Vienna. www.realvienna.at Capital Park ..............24 Krachem ....................28 Rainbow Tours ..........28 companies from Western th Event: 7 International Fair of Infrastructure, Airport Corius ........................24 KSG Agro......................7 Reinhold Polska AB ..22 Europe are also 25-27 3RD ANNUAL BUILDING Technologies and Infrastructure Exhibition. Cyfrowy Polsat ..........28 Kulczyk Investments....7 reportedly interested, but Sadovaya ......................7 Location: Kielce Trade Fairs MATERIALS CONFERENCE these firms are only Dom Development ....24 Kulczyk Oil Ventures....7 www.targikielce.pl Event: The main theme of this year’s conference Silurian ........................6 indirectly related to the E. ON Ruhrgas ............2 LiuGong........................6 will concern honesty in the construction sec- Sonel ..........................28 refining industry.