Romanian prosecutors start high-level investigation on the energy segment; local businessman involved
Prosecutors called 35 people to hearings on December 28 and 29 last year. Niculae was also cited in this case but failed to meet prosecutors at the end of last year. He is also being investigated in an anti-corruption file for financing Mircea Geoana's election campaign in 2009. Geoana lost the presidential elections in 2009 against the incumbent president Traian Basescu.
InterAgro ranks 41st in the top of companies in Romania based on their sales. In 2010, it posted EUR 399 million in sales. The group started to close down fertilizer companies in 2011, complaining about the high price of natural gas, its raw material. The cost of natural gas- the raw material for producing fertilizers- makes 70 percent of the total costs, while revenues are linked to the international quotation of fertilizers, which has triggered losses for the factories, according to InterAgro.
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(photo source: Sxc.hu)