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(Hot News) -- The Romanian
Government initiated procedures for the privatization of Oltchim SA Ramnicu
Valcea chemical company, the Economy Ministry announced last Tuesday. It
showed that according to a draft letter of intention agreed by the Romanian
Government with the IMF, World Bank and the European Commission, the Oltchim
privatization is due to be launched in the first half of 2012.
Romanian authorities will acquire consultancy services for the process
this year. By August, the government will employ an internationally recognized
consultant to prepare the privatization, while the bidding for the sale will
take place by mid 2012.
The Romanian state, through the Economy Ministry, controls 54.79% of the
Oltchim chemical plant. The company debt amounted to 2.289 billion lei by the
end of 2010.
mrcplast.com | 
