PGG miner to need over PLN 3bn in investments in two years
February 16, 2017
oland's coalminer PGG, which is to be merged with rival KHW, will require over PLN 3 billion in investments within the next two years, Energy Minister Krzysztof Tchorzewski told reporters.
"Our discussions show that such a new firm will need investments exceeding PLN 3 billion," Tchorzewski said. "That's a large challenge."
The PLN 1 billion capitalization of the post-merger group, as suggested last week by the ministry, should be sufficient to secure such investment level, the minister said.
The investments are needed in years 2017-2018 for the company to operate "with sufficient momentum."
On February 6, Tchorzewski said Poland will capitalize PGG with ca. PLN 1 billion after its merger with KHW.