Economy Ministry: Turkish company Yildirim Holdgin shows interest in Romania’s Cupru Min and Oltchim

Turkish chrome producer Yildirim Holding Inc. has recently shown interest in investing in Romania’s copper mining company Cupru Min Abrud, reads a statement of the Romanian Economy Ministry. Moreover, the Turkish company is also interested in participating in the privatization process of Romanian state-owned chemical producer Oltchim Ramnicu Valcea. The Romanian Minister of Economy, Varujan Vosganian, recently met with representatives of the Turkish company, namely general manager Serdar Goktas, vice president Ozer Oz and one of the Board members, Mehmet Yildirim. “In the near future, the Turkish investors will make visits to both Cupru Min and Oltchim. In Cupru Min’s case, Yildirim Holding Inc. requested and received the prequalifying documentation for participating in the selection process,” reads the Ministry’s statement. Romania offered CupruMin in spring last year for some EUR 57.3 million, but the privatization was canceled because of misunderstandings with the winner of the bid, Roman Copper, which later sued the state. Oltchim has been under insolvency procedures since January 2013. The state – owned chemical producer also went through a failed privatization procedure last year, which was won my Romanian media owner and politician Dan Diaconescu, who however failed to pay the pledged EUR 45 million. Irina Popescu, irina.popescu@romania-insider.com