Coal exporter Weglokoks is to merge with coal miners KHW and Kompania Weglowa.

The new giant company, worth 10 billion zloty (2.5 billion euro) is likely to debut on the Warsaw Stock Exchange in 2012. The offer would amount to 400-600 million zloty (100-150 million euro).

“If we get green light from Economy Ministry this month, which will probably happen, the first phase of the transaction, i.e. merger of Weglokoks with KHW should be completed by the end of the year,” a source who will be involved in concluding the transaction told the Rzeczpospolita daily.

The giant company will probably be called Polski Wegiel (Polish Coal) and headed by deputy Economy Minister Joanna Strzelec-Lobodzinska. (mg)