Yildirim Holding of Turkey, interested in investing in Oltchim and Cupru Min

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Yildirim Holding Turkish company is interested in participating in the privatisation process of Oltchim Ramnicu Valcea petrochemical plant and in the process of investment drawing in Cupru Min Abrud, shows an Economy Ministry release.

Economy Minister Varujan Vosganian on Thursday met the management of Yildirim Holdgin INC. (Turkey) company group, represented by CEO Serda Goktas, Vice President Ozer Oz and one of the Board members, Mehmet Yildirim.

‘During the discussions, the Yildirim Holding Inc. representatives showed their interest in participating in the process of investment drawing in SC Cupru Min SA Abrud and in investing in the mining industry of Romania, in general, especially in the ore sector. The second largest chrome producer worldwide, Yildirim Holding Inc company group is also interested in participating in the privatisation process of Oltchim Ramnicu Valeca plant. In the near future, the Turkish investors will pay assessment visits both to Cupru Min and Oltchim. As far as Cupru Min is concerned, Yildirim Holding Inc. requested and received the documents for pre-approval for participating in the selection process,’ the release mentions.

Cupru Min last year went through a privatisation process, which was not concluded. On March 26, 2012, Roman Copper Corp. Canada was declared winner of the tender organised for the sale of the shares held by the state in Cupru Min company, for 200.772 million euros. Subsequently, the tender was cancelled, the two sides not having managed to reach an understanding. The investors now interested in Cupru Min can file the registration documents until September 2.

Oltchim Ramnicu Valcea has been in insolvency procedure since January 2013 and had to be privatised by June this year. At present, the plant operates at a quarter of its capacity. Oltchim went through a failed privatisation procedure in autumn last year, when businessman Dan Diaconescu, declared winner of the tender, could not prove he had the amount of money in question.

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