New funds for Polish yard

Stocznia Szczecinska Nowa Shipyard, owned by the Industrial Development Agency (ARP), will cease to receive state guarantees for production financing at the end of the year. Although further subsidies will have to be approved by the European Commission, ARP has found a way out via commercial support. “We have entered a consortium with banks. Our share in financing production will reach 49%,” said Pawe³ Brzezicki, president of ARP.