Trade union leader Corneliu Cernev said workers are displeased that Economy Ministry officials failed to allocate EUR40 million needed to resume production and pay back wages for September and October. Cernev also said some employees went on hunger strike.
Around 400 Oltchim employees staged a spontaneous protest Monday, demanding to be paid their back wages. Cernev said unionists and company officials decided Monday that back wages for September would be paid in two tranches by the end of November.
Oltchim employees set off protests at the end of August after the plant’s production had been halted due to debts of over EUR500 million.
Romania has recently asked the European Commission to approve a loan of up to EUR10 million to Oltchim and the Commission is expected to decide on the country’s request.
Romania’s Government recently failed to privatize Oltchim because the winning bidder, a controversial local politician and journalist, allegedly deceived authorities and the sale fell through.
Oltchim has 54.8% of its shares in the hands of the Economy Ministry, while Germany’s PCC SE holds an 18.32% stake.
Oltchim’s losses amount to about EUR400 million and its debts to EUR580 million.