Poland to finance JSW with PLN 500 mln in 2017
02:42
Poland's Energy Ministry will finance a coal miner Jastrzębska Spółka Węglowa (JSW) with 500 million sum in 2017, deputy Energy Minister Grzegorz Tobiszowski informed.
"Funds could come in stages and draw both on previously discussed plans for new debt and equity. The money would go to investments," the official said.
Recently, JSW announced its plan to issue up to PLN 300 million worth of bonds to be addressed to state-controlled restructuring vehicle TF Silesia.
JSW is Poland's largest coke producer. In 2015, the company recorded a PLN 3.1 billion net loss, of which PLN 2.83 billion was due to impairments.
