The initial term was set for September 14.
The sealed-bid auction will be followed, if necessary, by a round of negotiations or by an outcry auction, OPSPI said.
Oltchim is majority owned by the Economy Ministry, with a 54.8% stake, while Germany’s PCC SE holds an 18.32% stake.
Last week, the Romanian authorities decided Oltchim’s potential buyer would also have to take over total receivables of 1.8 billion lei (EUR403 million) held by the state assets authority AVAS and state-owned electricity producer Electrica SA.
Oltchim reported losses of RON188.2 million in the first half, more than double on the year. The company’s sales fell 41% to RON540.6 million.
At around 3:40 pm Monday, Oltchim’s shares traded down 2.89% at RON0.756 in Bucharest, amid a slightly declining market. (EUR1=RON4.4667)