Poland’s Ministry of State Assets has offered to buy Tauron’s coal production unit Tauron Wydobycie for a symbolic 1 zloty ($0.2118), the Polish utility said.
Poland’s government has been pushing a plan to carve out the coal assets of state-controlled utilities PGE, Tauron and Enea into a single entity to boost the investment potential of the utilities.
“The state treasury’s offer to buy the mining assets is a significant step towards implementing one of the most important structural processes being carried out by Grupa Tauron in recent years,” Tauron Chief Executive Pawel Szczeszek said in a statement.
Tauron Wydobycie CEO Jacek Pytel added that the ‘symbolic zloty’ valuation is based on the current state of the mines as well as their long-term capital needs, according to the government’s plans.
Tauron Wydobycie carries out production, enrichment and sale of coal at three mining plants – Sobieski, Janina and Brzeszcze and owns Poland’s largest power coal resources, Tauron said.
