Last week, the Managing Board of Oltchim voted for the company to file for insolvency to undergo reorganization.
According to the document, insolvency will result in a significant downsizing of the company.
Prime Minister Victor Ponta said Monday, after talks with the IMF, Romania wants to resume procedures to privatize Oltchim and will look for a strategic investor.
The government failed to privatize Oltchim in October last year. The company is controlled by the Economy Ministry with a 54.8% stake. (EUR1=RON4.3877)