Banks, "interested in supporting" Oltchim

Economy Minister Vosganian said Friday in Ramnicu Valcea that some banks are interested in Oltchim and that the company records from month to month ever smaller losses.

He explained the efforts that are made to save the company.

Workers hoped to obtain from minister Vosganian certain promises on back payments.

At the end of August, Oltchim will be proposed for sale with no debt and this considering that, at present, the company gained the banks’ trust again, until two of them showing interested for supporting the company, as minister Vosganian said.

However, the estimates of the Ministry of Economy for Oltchim losses show that by the end of August they will be zero and the production on Ramnicu Valcea platform is likely to reach 50 percent.

As regards the implementation of the reorganization plan, Gheorghe Piperea said that it cannot be done without assessing the assets of Oltchim, which are expected for July the 10th.

In terms of wages, the economy minister said that they would be fully paid, including those placed on the list of creditors, without specifying very clear the deadlines.



Translated by Alexandra-Diana Mircea
MTTLC, Bucharest University