Deputy CEO: Tauron will bid for Brzeszcze

Tauron Polska Energia officially announced its participation in a tender for Brzeszcze coal mine, the Polish Press Agency reported (PAP) citing its deputy CEO, Stanisław Tokarski. "We have prepared a consortium, which has money at its disposal and will fund the mine's modernization," Tokarski told PAP. In late August, state-owned mining restructurization company (Spółki Restrukturyzacji Kopalń - SRK) announced a tender for the troubled Brzeszcze coal mine in order to satisfy demands by potential buyer – power utility Tauron. The deadline for making offers expires on September 10, the sale is to be completed by September 25. Tauron said earlier that it wants to buy the mine through a public tender to avoid the risk of returning public aid, should the aid be declared unlawful. Since the previous negotiations showed that no firms besides Tauron are interested in the mine, the power company is most likely to acquire Brzeszcze. According to the media, Tauron's offer is to be worth "a symbolic one złoty" and will be made by an SPV comprised of the firm's partners. The company also wants to cut employment to some 1,500 from 2,000.