The letter of intent agreed between the Government and the IMF, following the latest IMF delegation to Romania, no longer includes Electrica among the companies to receive private management, as the draft letter did.
According to the letter, the first companeis to receive private management remain Posta Romana, Tarom, Electrificare CFR, SN Lignitului Oltenia, Electrica Furnizare, Hidroelectrica, Romarm and Oltchim (OLT.RO).
CFR Marfa was removed from the list and it will undergo privatization with a strategic investor, which will be concluded by the end of October next year. The privatization may also include the European Bank for Reconstruction and Development and the International Finance Corporation, a branch of the World Bank.
Other companies to receive private management next year include CN Administratia Porturilor Maritime Constanta, CFR SA, CFR Calatori, Nuclearelectrica, Transgaz (TGN.RO), Transelectrica (TEL.RO) and Romgaz.
Romania’s Economy Ministry extended until January 20, 2012, the deadline by which head hunters may bid in the auction for the selection of private management at state-owned companies.
The Government will appoint private managers at nine state-owned companies by the end of 2011, with six more enterprises to follow suit next year, according to the country’s letter of intent to a EUR3.5 billion loan agreement with the International Monetary Fund.