JSW trade unions counting on SAFE to rescue mining in Poland
20:41
Labor unions at JSW hope the company can benefit from SAFE, while the government has not ruled out that option. The idea is to make JSW part of a new Polish steel program serving the defense industry, which could open access to some EU-backed funding. This fits a broader effort to reshape JSW’s business model and protect more than 30,000 jobs. The company has already expanded into military-related areas, including drones and combat vehicle maintenance, as it struggles with heavy losses. To preserve liquidity, JSW sold assets worth PLN 1.066 bln, but still needs about PLN 1.8 bln more this year. Talks on its future are expected after Easter.
