JSW to put PLN 1.0-1.1 bln in stabilization fund

WSE-listed coal group JSW will set up a  PLN 1.0-1.1 billion stabilization fund in H2 in cooperation with a selected investment fund company, acting CEO Daniel Ozon said. “It will be our safety buffer, to be used in a time of downturn,” he added. JSW is currently in talks with several investment fund companies to run the fund and is working on its investment rulebook at the same time. “We will invest the allocated funds only in liquid instruments such as deposits, bonds, without any risky instruments, equities,” Ozon explained. Corporate decisions regarding the fund should be made this summer.