Poland's PKN, Lithuania's railways to sign transport fees deal
WARSAW (Reuters) — The Lithuanian unit of state-run Polish refiner PKN, Orlen Lietuva, and Lithuanian railways firm Lietuvos Gelezinkeliai will on Wednesday sign an agreement in Vilnius ending a long dispute over PKN's costs for fuel transportation in Lithuania, Puls Biznesu daily said quoting unnamed sources.
The paper said PKN had negotiated new transport tariffs that could bring significant savings related to fuel transportation from its refinery in Mazeikiai.
Transportation costs have weighed on Mazeikiai's results and in the past PKN has decided to write down the value of its Lithuanian refinery.
Puls Biznesu said the agreement was possible after the parliamentary election in Lithuania last October, which triggered management reshuffles in state-run firms, including the railways.
PKN's Chief Executive Wojciech Jasinski and Lithuania's new Prime Minister Saulius Skvernelis will be present at the agreement signing ceremony on Wednesday.
PKN declined to comment.
Reporting by Agnieszka Barteczko; Editing by Mark Potter
Comments