Three offers for buying Oltchim chemical plant

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Two Chinese investors and one from Europe are interested in the privatization process of the chemical factory in Ramnicu Valcea, Oltchim, under insolvency now. According to Economy, Trade and Tourism Minister Mihai Tudose, the Romanian authorities expect the letters of intent in this context, Agerpres informs, the next step is selling it.

Minimum starting price of negotiation in the process for selecting the winning bid to purchase the shares of Oltchim is EUR 307 million, the reorganization plan of the chemical plant in Valcea reads.

Oltchim is insolvent for two years now and privatisation failed several times. The latest deadline for this process was December 15, 2014, when no investors showed interest in taking over its historical debts amounting to EUR 800 million.

 

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