Oltchim bought the Arpechim petrochemistry operations from OMV Petrom (SNP.RO) early-2010.
“This is just a first step in restarting the entire petrochemistry division at Arpechim, which we hope to accomplish in the near future,” Oltchim general manager Constantin Roibu said in a news release.
The company official told MEDIAFAX the operation entailed an investment of EUR3.8 million, including upgrades, revisions and raw material costs.
The Arpechim platform includes a total 27 petrochemistry installations, all of them currently inactive.
The Arpechim refinery, owned by OMV Petrom, has a nominal capacity of some 3.5 million tons per year and it was initially designed as part of a petrochemical complex.
OMV Petrom plans to permanently shut down Arpechim in the near future, turning it into a storage facility for crude and oil products.
On the Bucharest bourse Monday, Oltchim shares rose almost 15% to RON0.7225.