CFO of Grupa Azoty says that the company is close to a long-term debt restructuring agreement with banks.

The Polish 'chemicals -group Grupa Azoty, said Jacek Pogorski on Friday in a conference call that the group is close to finalising a long term debt restructuring agreement with banks.

Since 2022, the state-controlled group is?under pressure from rising gas prices. Meanwhile,?debts incurred by its flagship Polimery Police project have?forced an extensive restructuring effort.

When asked whether high gas prices could force the company to stop production, Marcin Celejewski, chief executive of the company said that there hadn't been a day where it was clear.

Podgorski said that the company did not see any indications of the sale to Orlen of the Polimery /Police plant being threatened by the 'arbitration' between LyondellBasell and the Polish energy group.

Grupa Azoty Polyolefins (the unit behind the Project) entered into a restructuring in late 2025, covering 6.1 billion Zlotys ($1.6 billion) of undisputed claims at the time.

(source: Reuters)