Rafako needs an agreement with contractors
Rafako completed a simplified restructuring process in the middle of the year. After the settlement with Tauron, the company’s situation is good. However, the company’s future depends on whether it is able to resolve its disputes with contractors.
These are mainly JSW Koks and Gaz-System. In the former case, talks may soon end in an agreement and the completion of the construction of the Radlin CHP plant. The situation is worse in the case of the dispute with Gaz-System. A year ago, the state-owned company terminated two contracts with Rafako – for the construction of the Goleniów-Płoty gas pipeline and the Kędzierzyn compressor station. It charged over PLN 54m in penalties. Rafako had reservations about these decisions. Radosław Domagalski-Łabędzki, Rafako’s CEO, explains that Gaz-System terminated the contracts and is now using obstruction. If no agreement can be reached with this company, the repair of the unit in Jaworzno may fail. This will result in Rafako losing financial stability and the ability to execute contracts. According to the company’s CEO, the agreement with Gaz-System will allow Rafako to file for bankruptcy, which is still being held in a drawer.
