High coking coal prices helps JSW's investment plan

As a result for the forecasted increase in price on European market, the company plans to begin an investment plan to make the mining process more efficient. JSW President, Leszek Jarno, announced that the company will spend zł.270 million on investments this year, and another zł.469 million between 2005-2006. The plan also envisages a merger of three mines, Jas-Mor, Borynia and Zofiówka, at an estimated cost of zł.32.3 million. The merger is due to start next year. JSW generated a 2003 net profit of zł.14.8 million, and zł.881.7 million if debt write-offs are included. (Puls Biznesu, p. 7) A.K.