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March 27, 2023

Economy Min: All state companies are parasitized by business people

Oltchim will start operating again by the end of this week.

Economy Minister Daniel Chitoiu, on an Antena 3 program Saturday, said that all the companies where the state holds the majority stake are parasitized by “so-called business people”. “There are examples I have ascertained since I case at the ministry and I ordered the Oversight Body of the Minister to make verifications to some of the companies subordinated to or coordinated by the ministry. I won’t scare anybody, but I should say that all the companies where the state holds a majority stake are parasitized by so-called business people,” Chitoiu said.During the said program, Marius Simion Gaga, Nelu Iordache and Georgica Cornu were given as examples of businessmen who allegedly parasitized state companies. The economy minister also said that state companies, mostly those operating in the energy sector, enter framework-contracts, most of the times without a tender being held, from which they make hundreds of millions of RON or euro.Chitoiu also announced that Oltchim will start operating again this week, and its employees will get a portion of their August salary on Friday. Interim union leader Corneliu Cernev expressed hope that by mid-October, employees will have got the remainder of their August salaries.

Hidroelectrica might get out of insolvency by late november

Chitoiu also said that Hidroelectrica might be out insolvency by the end of November, who added that once the insolvency is over, the process will start for assigning a private management, then, the company will be prepared for the listing on the stock exchange of a 10% stake, next year. The Bucharest Court of Appeal last week decided to adjourn to October 18  the appeals filed by Alpiq RomIndustries, Alpiq RomEnergie and Hidrosind against the opening of insolvency proceedings for Hidroelectrica by the Bucharest Tribunal on June 20, 2012.

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