Huta Częstochowa without a new owner, possible takeover by Min of National defense

The auction for Huta Częstochowa has been suspended, with the Polish Ministry of National Defense (MON) possibly acquiring the steel plant under bankruptcy law instead. Initially, state-owned Węglokoks was the leading bidder, but now it may take over via the ministry.

Two bids were submitted: Węglokoks and an Indian Jindal Group company. However, the government invoked Article 311 of the Bankruptcy Law, allowing MON to claim strategic assets. The Częstochowa court postponed the sale process.

Huta Częstochowa, valued at PLN 227 million, is crucial for military and energy transformation projects. The decision is expected soon, with Węglokoks continuing test production. The steel plant has faced bankruptcies and ownership changes since 2019.

(wnp.pl)