IMF asks for Oltchim and Cuprumin to be privatised under the new arrangement

Talks held yesterday between representatives of Economy and Finance Ministries and those of the International Monetary Fund targeted, among other things, the start of privatisation processes at Oltchim (OLT) and Cuprumin, alongside other projects to sell shares of companies in the energy sector. The two companies have big debts to the state if considered against their turnover.

Other topics discussed during the meeting included measures to boost efficiency of economic operators, among which the sale of minority or majority stakes held in certain companies, the reorganisation of certain companies in view of privatisation, recapitalisation of companies by attracting investments following the setting up of joint ventures.
“Privatisation projects in the energy sector were mentioned on this occasion: the selling of 15% in SNTGN Transgaz SA on the capital market, of 9.84% in OMV Petrom, of 15% in SNGN Romgaz SA, and of 15% in CN Transelectrica SA, the initiation of the privatisation processes at SC Cuprumin and SC Oltchim, the investments attracted for SC Avioane Craiova, SC Moldomin, SC Uzina Termoelectrica Midia Năvodari, Complexul Energetic Rovinari, Complexul Energetic Craiova and SC Termoelectrica power stations in Paroșeni, Brăila, Galați, Borzești, Doicești,” the
Economy Ministry announced.