Creditors agree on conditional unfreezing of Huta Katowice accounts

Creditors of Huta Katowice yesterday agreed to conditionally unfreeze the a ccounts of the Silesian steel mill. The condition for unblocking the accoun ts is that Towarzystwo Finansowe Silesia (TF Silesia), set up to manage the mill's current financing, must hand over zl.15 million owed to the banks as overdue installments on the credit. Huta Katowice currently owes the banks zl.290 million. The Treasury has proposed that TF Silesia will pay off Huta Katowice's debts this year, while next year the Industrial Development Agen cy (ARP) will pay off another part. The ARP plans to issue bonds in the fir st quarter of 2002 worth zl.600 million for restructuring the steel sector, part of which has been earmarked for covering some of Huta Katowice's debts. Huta Katowice's total debts are estimated to be worth zl.2.5 billion. (Rzec zpospolita, p. B3) P.W.