Abstract
Poland's infrastructure sector continues to be driven by preparations for the country's co-hosting of the
UEFA 2012 European Football Championships. However, the country will not be immune to the global
decline in the construction industry and therefore in BMI's Q309 Poland Infrastructure Report we are
forecasting a contraction of 5.85% year-on-year (y-o-y) in 2009, to reach a value of PLN84.85bn
(US$25.26bn).
In BMI's Q409 Poland Infrastructure Report we have revised our methodology. We are now using the
Gross Value Added measure of the construction industry as opposed to Gross Output as it is a more
accurate measure and aligns better with the other countries that BMI covers, allowing Poland's
construction industry value to compare more accurately with other countries. As a result, the construction
industry value appears far reduced as it now excludes intermediary products. Data from the Central
Statistics of Poland shows that in 2007, the nominal value of Poland's industry measured as gross value
added was PLN75.18bn (US$27.26bn). BMI is forecasting this to reach PLN84.85bn in 2009, a slight
reduction on the 2008 estimated value of PLN88.03bn.
The transport sector has continued to account for the majority of activity in Poland's infrastructure sector,
with road projects leading by far, followed by airports. The usual line up of construction companies have
benefitted from contracts in the road sector, including Strabag, Budimex, Mostostal Warszawa and
Skanska. The largest contract to be awarded was to the A2 Strada consortium including Strabag and
Kulczyk Holding in June 2009. The EUR1.6bn contract is for the construction of a 106km section of the
A2 motorway, linking Novi Tomysl and Sweicko. Funding of EUR1bn has been committed for the
project by the EIB. Another major event in the sector was the financial close for the GdaDrsk Transport
Company (GTC) consortium, led by Skanska and John Laing, for the second phase of construction of
the A1 from Czerniewice to Nowe Marzy. Finally Budimex and Mostostal Warszawa signed a
EUR441mn contract for construction of a section of the A1 from Pyrzowice and Piekary
In the utilities sector, there was also activity. Big news came when it was reported that the country is
planning to sell stakes in a number of its power companies in order to raise state funds, and we expect
these to garner interest from all of the European majors. Full privatisations are being planned in 2010 for
two of the country' s largest power producers, Tauron Polska Energia SA and Energa SA, according to
an interview with Deputy Treasury Minister Joanna Schmid cited in Bloomberg in July. It was also
revealed that the government was planning to sell its remaining 76.5% stake in Enea, as well as issuing
shares representing 15% of Polska Grupa Energetyczna SA (PGE), Poland' s largest power company,
possibly in 2010.
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