BUSINESS

Chitoiu: Oltchim will operate 60 pc in the coming weeks

Oltchim Complex is operating in proportion of 25-30 percent, which means nearly 800 of the complex’s 2600 workforce, and its operability would increase to 60 pc, Economy Minister Daniel Chitoiu says told a press conference at the Timis Office of the National Liberal Party (PNL Timis). “Only a single electrolysis has been operating so far. Talks are underway with lender banks over financing,” Chitoiu explained, adding that the Oltchim privatisation was taken over “along the way” and was not abandoned, but going to resume next year.   “The privatisation method was established in 2011, the complex should have been gone private as early as last April, yet, eventually, we took over this privatization along the way. Were a serious investor to come, it could have paid the debts. We are now trying to find the financing sources to secure the working capital. We, the Government, have introducing private management to such companies a priority goal,” Chitoiu said. While in Timisoara, Minister Daniel Chitoiu visited the Electrical Measuring Equipment Factory (AEM), one of Timisoara’s oldest plants, saying that, had the Oltchim Complex had a management such as that at the Timisoara factory, the complex would not have gotten to its current situation.

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