2026-04-17 11:28
publication
2026-04-17 11:28
On Friday, the Sejm passed an amendment to the Act on the system of development institutions, the aim of which is to enable the Industrial Development Agency (ARP) to grant loans to mining companies and other companies of significant importance to the national economy. The regulations on this matter were proposed by KO MPs. According to the applicants, the purpose of the amendment is primarily to enable ARP to grant loans to Jastrzębska Spółka Węglowa (JSW) and Grupa Azoty.
440 MPs voted for the adoption of the act, no one was against and no one abstained. Now the bill will go to the Senate.
The justification for the project indicated that the loans could be used for the reorganization of companies aimed at reducing the costs of their operations or optimizing them. At the same time, it was stipulated that the purpose of the loan cannot be the same as the purpose of the public support mechanism. The condition for granting loans will be that the ARP determines, based on the recovery program presented by the borrower, that the borrower has the ability to repay the liabilities arising from the loan – it was explained.
The Act lists a catalog of enterprises that will be able to obtain a loan from the Industrial Development Agency after the provisions of the Act come into force. These are mining enterprises, enterprises liquidating mines, but also enterprises of significant importance for the national economy or its sector indicated in government strategic documents.
Last fall, the JSW management board announced that it expected the company to lose liquidity in March this year unless anti-crisis measures were implemented. He then prepared a business restructuring plan, under which he intends to reduce costs and simplify the group structure. At the end of last year, JSW was covered by the provisions of the Act on the Operation of Hard Coal Mining, which allows it to finance a voluntary departure program.
As part of corrective actions, JSW signed an agreement with trade unions in February limiting labor costs. In March, ARP signed an agreement to acquire two subsidiaries from JSW – Przedsiębiorstwo Budowy Szybów and Jastrzębskie Zakłady Remontowych for over PLN 1 billion. These funds are also intended to support JSW's liquidity.
Grupa Azoty is taking steps to improve its financial situation. At the end of the third quarter of 2025, it had a total debt of PLN 4.3 billion. In March, the general meeting agreed to increase the company's share capital at the request of the State Treasury.
Another element of corrective actions is the agreement signed on April 1 to sell GA Polyolefins, which is implementing the Polimery Police investment, to Orlen. The transaction allows for financing the debt and other liabilities of this subsidiary. Currently, Grupa Azoty is conducting negotiations with financial institutions regarding debt restructuring.
JSW is the largest producer of high-quality coking coal in the EU and one of the leading producers of coke used to melt steel. It mines in four mines: Borynia-Zofiówka, Budryk, Knurów-Szczygłowice and Pniówek. The company is listed on the Stock Exchange.
Grupa Azoty is the second largest producer of nitrogen and compound fertilizers in the EU. It is the only melamine producer in Poland. It also produces products such as polyamide, OXO alcohols, plasticizers and titanium white. Grupa Azoty is a joint-stock company in which the State Treasury owns 33%. shares. (PAP)
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