SPEECH   



 

The speech delivered by Mr. Ovidiu Musetescu, Minister of the Authority for Privatisation and the Management of State Assets, at the signing ceremony for he SIDEX steel mill privatisation contract

Prime Minister,
Your Excellency Mister Ambassador,
Ambassadors,
Ministers,
Dear Guests,

This event epitomises the fact that the political commitment of the Adrian Nastase Cabinet is set on the right track. The meaning and the purpose is the development and the modernisation of Romania; these privatisations do not represent merely the selling of shares portfolios, but long-term projects aimed at improving the situation of the firms in question.

We have worked hard on this project for the last months. Its connotations are not only economical, political or social, but also sentimental, in what the public, the inhabitants of Galati and the workers of SIDEX are concerned. History will not judge us in accordance with the price we are cashing in today, but in accordance with the way in which over the years, this steel mill, a symbol of the Romanian industry, will be modernised and upgraded and will earn its place among the great steel producers of the world.

This has been our will, the will of the Adrian Nastase Cabinet and I hope that the closure of this privatisation contract will indeed fulfil our objective. Throughout this period, I have strongly felt the personal support of the Prime Minister, of the entire Cabinet, of all my colleagues.

I wish to emphasise at the same time that, in our view, the LNM Group ISPAT is a strong and able strategic partner, with strong financial, management and know-how support, capable of taking SIDEX on the right track.

I wish to thank all those who, during this period have assisted me, have provided me with the necessary information and have stood by our side. I wish to thank once more the entire Cabinet and the Prime Minister for their support and trust, and, not in the least, President Mittal and his team, a constructive partner in these negotiations which, allow me to assure you, have resulted in a very good contract.

In the end, please allow me to wish good luck to all involved, as our mission is not yet over; we will work hard until the completion of the contract, expected to take place in October.

Thank you.

 

The Department for Institutional and Social Analisys
July 25, 2001