RAFO should be extended state guarantees, says President Traian Basescu

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President Traian Basescu on Wednesday said in Moinesti that the Government should positively react to RAFO Onesti’s request of being extended state guarantees with a view to raising a loan necessary for refinery’s upgrade.

‘The company’s request of receiving state guarantees to raise the loan which will pay back itself seems reasonable. The Government should have a positive reaction, considering it did the same for Oltchim, Ford and will do it for Renault, too.

Therefore, I do not see why it shouldn’t extend guarantees to RAFO, irrespective of shareholders’ structure, given that the company can be lucrative for Romania:’ said the head of the state.

‘RAFO has paid all its debts to the state worth almost 250 million euros. Secondly, an investment in upgrading has been started in RAFO, however raising a loan is very difficult because of the crisis,’ said Basescu.

On Wednesday, Basescu visited RAFO Onesti at the invitation of the trade union and employers’ association and afterwards he visited the aircraft plant of Bacau and had a meeting with teachers of Bacau in Moinesti.

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