New Privatisation Processes

At a difficult time for many sectors of the Romanian economy, the line ministry is making preparation to start new privatisation processes of state owned companies.

Economy minister Varujan Vosganian has announced that consultations and expert analyses are conducted for the privatisation of three major companies in the aeronautical field: IAR Ghimbav, the Craiova Plane Enterprises and Romaero Baneasa.

The aforementioned companies are in a critical situation, as they either have debts or are coping with significant decreases in the output.

"All three companies are directly involved in Romania’s defence capacity; they are valuable companies, boasting an extraordinarily rich expertise in the field. However, the Plane Enterprise in Craiova is in an extremely critical situation, Romaero is indebted, and IAR Ghimbav is facing a dramatic decrease in the output", said Varujan Vosganian

The Economy Ministry has also announced that 300 new jobs will be created at the Arms Factory in Cugir, after the factory signed a contract with a NATO member state for delivering light weapons, and this contract will double the factory’s production.

100 new jobs will be created until autumn in the field of dolomite and limestone extraction and processing in Baita, Bihor County.

Two firms have invested there some 2 million Euros and receive in exchange, half of the production.

The recipe, considered to be a success, will also be applied in the case of Cuprumin, where investors’ offers are expected starting June the 18th.

Vosganian has said however that those interested should invest 40-50 million Euros.

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