September 30, 2015 / 12:46 PM / 4 years ago

Poland to transfer Kompania Weglowa's coal mines to state-controlled fund

WARSAW, Sept 30 (Reuters) - Poland will transfer all coal mines of struggling coal miner Kompania Weglowa to a state-controlled fund TF Silesia, which is to form a basis of a strong fuel-energy company in the future, treasury ministry officials said on Wednesday.

Deputy Treasury Minister Wojciech Kowalczyk said engagement from state-controlled utilities would be vital for the success of the project, aimed at preventing Kompania - European Union’s largest coal miner - from bankruptcy before the Oct.25 election.

Kowalczyk also said the ministry has already received “verified signals” from utilities that they would be interested in investing in the Silesia fund.

Tresury Minister Andrzej Czerwinski said the plan will not involve unwarranted state aid. (Reporting by Jakub Iglewski; Writing by Marcin Goettig)

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