24 February 2011 17:59 [Source: ICIS news]
An internationally recognised privatisation consultant would be selected by August this year, while an invitation for bids in the Oltchim sell-off would be issued within the first half of 2012, the ministry said.
The Romanian state was initiating procedures for the privatisation in accordance with a draft letter of intent agreed by the government with the IMF, the World Bank and the European Commission, the ministry said.
Unprofitable Oltchim has pinned its hopes of reviving its fortunes on successfully sourcing feedstock from the newly acquired petrochemical unit Arpechim.
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