08 November 2010 11:12 [Source: ICIS news]
BUCHAREST (ICIS)--Oltchim plans to restart its Arpechim petrochemical unit by the end of this month, at the latest, the CEO of the Romanian petrochemical and plastics manufacturer said on Monday.
“The refurbishment work is already done and now we are trying to find working capital to purchase raw materials needed to restart the Arpechim unit. Most likely we will contract a loan in the following days and will get the needed money,” said Oltchim CEO Constantin Roibu.
Following Oltchim’s acquisition of the mothballed unit from Romanian refiner Petrom in January and a subsequent refurbishment, Oltchim has targeted several restart dates for the unit, the last being at the end of September.
Oltchim has said that successfully restarting the Arpechim unit, which includes a 200,000 tonne/year ethylene plant linked to Oltchim by a local pipeline, is vital for a revival of the company’s fortunes.
The unit also includes an 80,000 tonne/year low density polyethylene (LDPE) production line.
Based at Ramnicu Valcea, in southern ?xml:namespace>
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