Romania's Oltchim seeks loan to restart Arpechim refinery

24 February 2010 12:02  [Source: ICIS news]

BUCHAREST (ICIS news)--Romanian chemical producer Oltchim has begun negotiations with local banks to secure a loan that will enable it to restart its Arpechim petrochemical units, said Constantin Roibu, the company’s general manager, on Wednesday.

"I should only say that by the early April all the units at Arpechim will work full time," Roibu said, declining to reveal details about the value of the loan or the names of local banks.

On 29 January, Oltchim completed the acquisition of the Arpechim petrochemical unit of Romanian group Petrom.

The Arpechim units include a 200,000 tonne/year ethylene plant and an 80,000 tonne/year low density polyethylene (LDPE) production line. Petrom mothballed the units – which served as Oltchim’s key feedstock supplier – in late 2008.

Oltchim's product range includes caustic soda, petrochemicals, agrochemicals, inorganic products and building materials, including polyvinyl chloride (PVC) insulating products.

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By: Marian Chiriac
+44 20 8652 3214

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