Friday was a big day for Polimex as the troubled builder signed a zł.5.1 billion contract with Enea for the construction of a power unit at the power plant Elektrownia Kozienice, Parkiet reported.

The company still has to deal with its huge debt pile and several delayed projects but the agreement is an important step that might prevent it from going bankrupt.

Friday was the very last day the consortium of Polimex and Hitachi could sign the contract. Late evening the previous day, after long and heated negotiations, Polimex secured bank guarantees from PKO Bank Polski, which enabled the builder to secure the zł.5.1 billion deal.

Bank Pekao was the only creditor to block granting these guarantees previously, but in the end it decided to withdraw its opposition.

Poland A.M.