Romania, IMF Discuss Oltchim Privatization

The meeting included talks on company activity optimization, which would include stake sales, reorganization in view of privatization and the recapitalization of several companies, by drawing investment.

The talks focused on the privatization projects in the energy sector: the sale of 15% in gas transporter Transgaz (TGN.RO), 9.84% in OMV Petrom (SNP.RO), 15% in Romgaz and 15% in Transelectrica (TEL.RO). Furthermore, there were talks on launching the privatization of the companies Cuprumin and Oltchim, and attracting investments at Avioane Craiova, Moldomin, Uzina Termoelectrica, Midia Navodari, CE Rovinari, CE Craiova and Termoelectrica's plants in Paroseni, Braila, Galati, Borzesti and Doicesti, the Economy Ministry said.

Romanian Economy Minister Ion Ariton and the Romanian delegation including representatives of the economy and finance ministries met with the IMF delegation Thursday for an evaluation of Romania's economic performance under the EUR13 billion stand-by agreement inked last year.

The IMF mission was also briefed about the issue of selling the excess carbon emission certificates, or AAUs.

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