PTL announced on Tuesday 7 January that it is appealing against the authority ISP's decision not to allow PTL's investment in Torsboda. Pending the government's review, Torsboda Industrial Park is entering into dialogues with PTL on how the continued work can look in the future.

As a first step, Torsboda Industrial Park and PTL have already agreed to suspend the agreement between the parties regarding land sales in Torsboda until February 15. After February 15, both parties can within 14 days terminate the contract or request an extension.

“In our basic agreement there is agreement from both parties to work for the best interests of the business and we follow that, of course,” says Christian Söderberg, CEO of Torsboda Industrial Park. At the moment, we are awaiting the government's decision. If there is a yes, we will most likely continue the deal through a new supplementary agreement, in the event of a “no” from the government, we will terminate our business arrangement.

How long the appeals process might take with the government, we don't yet know.

---- As a company, we have an interest in the government settling this relatively quickly. If PTL is not allowed to build its factory in Torsboda, we want to move forward with other customers. If PTL gets its permit, we need to work further with the enabling of their facility,” says Christian Söderberg.

In the agreement between PTL and Torsboda Industrial Park, there are dates set - milestones - when certain things must be completed in order for the agreement between the parties to continue in force. December 31 was the date when the land transfer and payment would be completed.

“As we do not yet know how the appeal will affect the timetable for PTL and thus also our development of the industrial park, we do not have any new dates for milestones ready. We are in dialogue with PTL and at the same time continue to attract customers to our other territories,” says Christian Söderberg.