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UPDATE 1-Polish court orders re-examination of PGE's $3.7 bln investment

* Decision further delays Poland's No.1 power sector deal

* Cash-strapped builders keenly await its launch

(Adds more detail, background)

WARSAW, Oct 2 (Reuters) - A Polish court on Tuesday ordered a re-examination of the 11.6-billion zloty ($3.7 billion) investment in new power units by Poland's top utility PGE , further delaying the construction project keenly awaited by local builders.

Earlier this year, PGE had to delay its investment in the project for the construction of two 900-megawatt coal-fired units in the south-western city of Opole, after a court blocked its construction following an appeal by ecologists.

The utility has said that more delays in starting the project, the largest in the country's power sector, could hurt Polish construction firms, and deprive the slowing economy of an important cash stimulus.

State-controlled PGE had no immediate comment on the issue on Tuesday.

Poland's construction sector is following the case closely as many major builders - strapped for cash after bidding for road deals pushed them to the brink of insolvency - are involved in the project.

The consortium to build Opole includes Polimex , Rafako , a unit of PBG , and Mostostal Warszawa , which is the Polish unit of Spanish firm Acciona .

PBG has been in bankruptcy protection since June, while Polimex has until Nov. 24 to come up with an austerity plan after its creditors agreed to waive interest on the group's 2.5 billion zloty debt pile in July. ($1 = 3.1733 Polish zlotys)

(Reporting by Maciej Onoszko; writing by Adrian Krajewski; Editing by Louise Heavens)

((adrian.krajewski@thomsonreuters.com)(+48 22 653 97 09)(Reuters Messaging: adrian.krajewski.thomsonreuters.com@reuters.net))

Keywords: PGE COURT/