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PKP Cargo wants PLN 1.5 billion from the state
On Friday, December 5, the managers of PKP Cargo informed about the company's request to the Prime Minister and the Minister of State Assets a claim for payment of PLN 1 billion, 522 million, 424 thousand PLN as compensation for damage resulting from the implementation of tasks imposed on PKP Cargo based on the decision of Prime Minister Mateusz Morawiecki of July 25, 2022.
As the company explains, this concerns the transport of coal purchased by PGE Paliwa and Węglokoks and the State Treasury's failure to fulfill its obligation to conclude an agreement with PKP Cargo regarding the financing of this task.
The Prime Minister's decision at that time resulted from the provisions of the Act of April 26, 2007 on crisis management.
PKP Cargo threatens to sue the State Treasury
“If the requested amount is not paid within the deadline indicated by the company, PKP Cargo plans to file a lawsuit against the State Treasury before the end of 2025.“- we read in the announcement.
The decision to transport coal was the result of the embargo on Russian raw material, which was introduced in July 2022. PGE Paliwa and Węglokoks were then obliged to purchase and import 4.5 million tons of coal suitable for individual farms from other directions by October 31, 2022. PKP Cargo was responsible for organizing transport for the entire project.
The management board of PKP Cargo previously claimed that this decision forced the carrier to terminate other transport contracts, which could have resulted in significant losses for the company. “As a result of the decision, PKP Cargo lost 660,000 tons of transport work for only one customer, which translates into revenue loss of PLN 24 million“ – the company indicated last year.
PKP Cargo has big financial problems
PKP Cargo is the largest Polish rail freight carrier, specializing in domestic and international rail transport and the provision of logistics services. The company is listed on the Warsaw Stock Exchange and its activities cover a wide range of services, including intermodal transport, forwarding, as well as repair and maintenance of railway rolling stock. The main shareholder of the company is PKP SA, a sole shareholder company of the State Treasury, holding approximately 33.01 percent. shares.
Currently, the company is going through a process of deep restructuring. In mid-2024, the management board decided to submit an application to open restructuring proceedings aimed at healing the company and restoring its financial liquidity. As part of these activities, group layoffs and changes in the organizational structure were carried out, as well as the sale of some assets.
