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SEP 29 2018

Polish coal producer JSW puts extra 300 mln zlotys into contingency fund

  • Economic Times, ET Bureau / Hyderabad
  • Created: Sat 29th SEP 2018

 

Polish coking coal producer JSW has set aside 300 million zlotys ($81 million) on top of the 1.5 billion it already has in a special contingency fund, its Chief Executive Daniel Ozon said on Friday.

 

State-run JSW, which almost collapsed in 2015 due to a slump in coal prices, decided last year to put aside extra money for future investment or if it hit difficulties again.

 

"We have spent an additional 300 million zlotys on the stabilisation fund, on top of the 1.5 billion zlotys we had spent there earlier. This money will be spent on investment," Ozon told reporters. ($1 = 3.6927 zlotys)

Tags

JSW Steel Ltd. Coal

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