On today’s meeting, the Executive decided via Memorandum to convert into shares the EUR134 million debt(538 million lei) of state-owned chemical plant Oltchim Ramnicu Valcea to AVAS as well as the mechanism for contracting a loan, PM Emil Boc has stated today, at the end of the Executive meeting.
“We started the procedures to guarantee 80% of a EUR300 million loan taken by the company, according to European regulations so that Oltchim remains a representative industry for the Romanian economy”, Prime Minister has stated.
Executive is waiting for European Commission’s answer regarding these decisions.