German Petrol Carbo Chem (PCC), minority shareholder of Oltchim, one of the largest chemical companies in Southeastern Europe, plans to enter the Romanian market with all three divisions: plastics, infrastructure and energy.
The company’s priority is to take over the main Oltchim share package, but it is equally interested in railway transport privatizations and energy production from hydro sources.
"Romania is a huge market, very well positioned and can become a business center for this area, due to good communication possibilities with Eastern and Southern countries," said Development Manager Wojciech Zaremba.
Regarding the Oltchim takeover, Zaremba said that company debts, subject to a decision by the European Union, are a decisive issue. "We want to see if it is legal to invest in a capital increase, so as not to regret the decision later. A conversion of this debt to shares looks suspicious and I believe it will be difficult to establish what their current value on the market is," he added.
PCC does not intend to withdraw from Oltchim if the main share package goes to another company. "The basis of our investments is Oltchim. If there will be a better offer for Oltchim, we will target other segments. Either way, we will continue to collaborate with Oltchim," said Zaremba.
The company is also interested in national railway merchandise transporter CFR Marfa privatization. Also, PCC plans to start energy production through Petro Carbo Chem Ploiesti. "We have a plan to build micro hydro power plants. We have already initiated this process in Slovenia and Serbia, where we have four micro hydro power plants," added Zaremba. The company has a total budget of €50 million for this project.