{"id":235139,"date":"2025-12-16T04:41:10","date_gmt":"2025-12-16T04:41:10","guid":{"rendered":"https:\/\/www.europesays.com\/ie\/235139\/"},"modified":"2025-12-16T04:41:10","modified_gmt":"2025-12-16T04:41:10","slug":"polands-jsw-needs-over-830-million-to-stay-afloat-says-minister","status":"publish","type":"post","link":"https:\/\/www.europesays.com\/ie\/235139\/","title":{"rendered":"Poland’s JSW needs over $830 million to stay afloat, says minister"},"content":{"rendered":"

WARSAW, Dec 15 (Reuters) – Polish coking coal producer JSW (JSW.WA), opens new tab<\/a> needs 3 billion zlotys ($834 million) of liquidity to keep operating next year, the state assets minister said on Monday, adding the company was considering loans from commercial banks and a government fund.<\/p>\n

JSW, the European Union’s largest producer of coking coal used in steelmaking, has been hit by falling prices and high wage costs, and is working on a restructuring plan.<\/p>\n

Sign up here.<\/a><\/p>\n

If approved, the plan could save billions of zlotys on wages, estimated by Erste analyst Jakub Szkopek at 7.1 billion zlotys per year.<\/p>\n

The state-controlled company has already cut investments and spent almost all of its rainy day fund, which has shrunk from nearly 5 billion zlotys at the end of 2022 to around 100 million in October.<\/p>\n

JSW reported a net loss of 796.3 million zlotys for the third quarter, widening from a 315.3-million-zloty loss a year earlier.<\/p>\n

“The restructuring plan for JSW is ready. The company is intensively negotiating to secure commercial financing from the international market,” Wojciech Balczun told reporters.<\/p>\n

“Market responsiveness is high. At the same time, we are negotiating a loan from the Restructuring Fund. JSW needs almost 3 billion zlotys to ensure its liquidity for the next year.”<\/p>\n

($1 = 3.5956 zlotys)<\/p>\n

Reporting by Marek Strzelecki and Anna Koper. Editing by Mark Potter<\/p>\n

Our Standards: The Thomson Reuters Trust Principles., opens new tab<\/a><\/p>\n

Purchase Licensing Rights<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"WARSAW, Dec 15 (Reuters) – Polish coking coal producer JSW (JSW.WA), opens new tab needs 3 billion zlotys…\n","protected":false},"author":2,"featured_media":235140,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[174],"tags":[82499,36586,79,82517,94780,94781,82528,83620,179,85422,18,55396,82578,83599,7520,83600,83601,4893,82520,32356,19,17,3503,84449,82565,124891,83002,102782,91558,83618],"class_list":{"0":"post-235139","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-economy","8":"tag-bact","9":"tag-biz","10":"tag-business","11":"tag-ceeu","12":"tag-coam","13":"tag-coam1","14":"tag-destoukbsm","15":"tag-destousnrg","16":"tag-economy","17":"tag-eeu","18":"tag-eire","19":"tag-emea","20":"tag-emrg","21":"tag-ener","22":"tag-energy","23":"tag-enff","24":"tag-eng","25":"tag-eu","26":"tag-europ","27":"tag-fin","28":"tag-ie","29":"tag-ireland","30":"tag-job","31":"tag-min","32":"tag-mtpix","33":"tag-pl","34":"tag-pxp","35":"tag-reorg","36":"tag-repicoal","37":"tag-topicenergy-power"},"share_on_mastodon":{"url":"https:\/\/pubeurope.com\/@ie\/115727413140442735","error":""},"_links":{"self":[{"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/posts\/235139","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/comments?post=235139"}],"version-history":[{"count":0,"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/posts\/235139\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/media\/235140"}],"wp:attachment":[{"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/media?parent=235139"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/categories?post=235139"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/tags?post=235139"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}