Polish state assets minister believes support for Rafako still possible

"Support for Rafako is still possible, but the most important thing is people, not jobs. I understand the regional context, but we are approaching this calmly and are planning some solutions," Jaworowski told journalists.

However, the minister pointed out that the company recently Rafako has had difficulties with the execution of contracts, and it is not a company under the supervision of the Ministry of State Assets.

The Minister of State Assets does not have the instruments to directly support entities in a difficult financial situation, so he asked the state industrial development agency ARP and Poland's development fund PFR to present the chance of possible support for Rafako.

The discussions held so far and the proposals presented, however, have not allowed an agreement to be reached, due to the lack of acceptance by Rafako's management and its main shareholders and creditors.

The industrial development agency ARP is in talks with Rafako's receiver to restore the company's ability to compete. ARP is involved in negotiations with a potential investor to take over the company and create an effective financing model.

The Ministry of State Assets emphasises that the key challenge is to secure the order book for the short and medium term, which is essential for Rafako's stabilisation.

Rafako has received state aid of PLN 100 million (EUR 23.7 mln) in 2021. The ARP is currently engaged in talks between Rafako and creditors to support a possible agreement.

MAP notes that further action must be carefully considered due to European competition regulations.

pr/ nl/