No investor for Romania's chemical producer Oltchim by privatization deadline

None of the four investors that had shown interest in taking over the majority stake in the Romanian chemical producer Oltchim submitted a bid by the deadline on Friday, according to the Oltchim judicial administrator Gheorghe Piperea. "No one showed up, nor the Chinese group, nor the Turkish group, nor businessman Stefan Vuza, nor the Romanian investment fund SIF Transilvania. They proved to be unreliable investors," Piperea said, cited by local Economcia.net. "We are now developing a new reorganization plan, which will be voted by the Creditors Committee on March 10, 2015," he added. The groups that had shown interest in Oltchim were the Chinese consortium Baota Petrochemical-Junlun Petroleum, Romanian investment fund SIF Transilvania, Romanian group Chimcomplex owned by businessman Stefan Vuza and a Turkish company whose name was not disclosed. editor@romania-insider.com