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GE in Official Talks about Investments Totaling Billions

According to Rzeczpospolita, American General Electric is considering making large investments in Poland.

Last Friday the GE president Jeffrey Immelt met with the Prime Minister Marek Belka to discuss the concern's planned investments in Poland, namely the production of parts for plane engines and the servicing and production of train engines. GE is also considering building a factory of wind power plants.

According to Rzeczpospolita sources, the value of GE investments may reach as much as $3 billion in 2005 and $8 billion by the end of 2006. Since 1992 GE has invested $400 million in Poland.

However, the GE general director for Central and Eastern Europe Leslaw Kuzaj did not confirm the rumors. "GE constantly analyzes and evaluates all investments possibilities in the scale of the region and eventually chooses the best one," he stated.

Nevertheless, government sources quoted by Rzeczpospolita claim that GE is indeed planning "very large" investments in Poland.

The Polish Information and Foreign Investments Agency (PAIiIZ) has also informed it is in talks with GE on concrete investment projects.

(WBJ 29.x.04)

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