Antena 3 CNN Business Oltchim could be bought by the Russians. The mayor of Râmnicu Vâlcea: The Russians from TISE, are holding talks with the Government

Oltchim could be bought by the Russians. The mayor of Râmnicu Vâlcea: The Russians from TISE, are holding talks with the Government

2 minute de citit Publicat la 17:26 13 Noi 2012 Modificat la 17:26 13 Noi 2012
Oltchim could be bought by the Russians. The mayor of Râmnicu Vâlcea: The Russians from TISE,  are holding talks with the Government
The mayor of  Râmnicu Vâlcea, Emilian Frâncu stated Tuesday that he had information regarding the  intentions of the Russians from TISE  to take over the Arpechim refinery  and implicitly to take part in the management  of   Oltchim.

‘I know for sure that the Russians from TISE are interested in taking over the refinery from Pitesti the one which works on an integrated system with Oltchim. A successful   takeover would obviously  grant more than the survival of  our chemical plant, it would  help resume the economic growth in the area. From my information, the talks between the Ponta Government and the  Russians from TISE are rather advanced and positive results   are expected.  Right now this is Olthim’s only chance to emerge from  this economic decay and for   Râmnicu Vâlcea to avoid a social catastrophe’, Frâncu stated according to Agerpress.

The mayor statement comes after the central media published  information regarding the negotiations between the Government and the Russian company regarding the takeover of the Oltchim  chemical plant.

The workers of Oltchim protested again in  the company’s   courtyard requesting the payment of overdue salaries, chanting anti-government slogans and accusing  county authorities of  unfulfilled promises.

The power plant was shut down at the end of August on account of overdue debt amounting to more than 700 million euros. In the  meantime,  an unsuccessful privatization attempt  was carried out and in early  October one of its sections resumed activity.

In the meantime, the power plant management was changed  staring with the general director Constantin Roibu and  ing. Mihai Bălan was appointed in his stead, the former director of CET Govora.

 

The IMF request the shutdown of the Oltchim power plant, several sources  close to the IMF’s representatives claim. The request follows after the failed  privatization attempt and now Oltchim has become a black whole for the state’s economy. The IMF claims that Romania should not invest 20 million euros in Oltchim if the company registered losses.

Over 500 employees in the Oltchim power plant are protesting in the streets Tuesday morning, to claim their two months overdue salaries and six workers have entered hunger strike.

Oltchims debts amount to more  than 700 million euros, and at this time the power plant  operates at 8% of its capacity.

 

The  Oltchim privatization attempt failed,  because Dan Diaconescu who won the state owned  stake auctioned, failed to pay the 45 million euros for the bonds.

The IMF representatives will go to the Ministry of Economy today to discuss the issue.

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