Vosganian told Mediafax Wednesday Oltchim would enter insolvency and a request to this end would be sent to the Valcea Court.
According to a document presented by the government last week, Oltchim had debts of over 2.68 billion lei (EUR0.61 billion) at the end of 2012.
The government failed to privatize Oltchim in October last year. The company is controlled by the Economy Ministry with a 54.8% stake. (EUR1=RON4.3724)