Poland's Treasury Minister Aleksander Grad has revealed that the two Polish yards of Gdynia and Szczecin sold off last month for 82 million euros ($115.7 million) went to a Qatari investment fund.
“Qinvest, a Qatari investment fund, is the investor. The deal is guaranteed by the Qatar Islamic Bank,” Grad told the press on Tuesday.
Payment is slated for transaction by July 21, “which will allow the procedure to be completed,” he added.
The yards, on Poland's northern Baltic coast, have a historic significance for the role they played in the country's communist past.
The European Commission (EC) had recently ordered Poland to sell off its yards after ruling that Warsaw had given illegal state aid to keep them in business, the Middle East Online said. The EC polices business competition rules in the 27 member nations of the EU.
It is understood that a third Polish yard in Gdansk is also under scrutiny by the EC.
“Qinvest, a Qatari investment fund, is the investor. The deal is guaranteed by the Qatar Islamic Bank,” Grad told the press on Tuesday.
Payment is slated for transaction by July 21, “which will allow the procedure to be completed,” he added.
The yards, on Poland's northern Baltic coast, have a historic significance for the role they played in the country's communist past.
The European Commission (EC) had recently ordered Poland to sell off its yards after ruling that Warsaw had given illegal state aid to keep them in business, the Middle East Online said. The EC polices business competition rules in the 27 member nations of the EU.
It is understood that a third Polish yard in Gdansk is also under scrutiny by the EC.