Ponta said the Romanian state will get a VAT refund if the law permits, but the money must not go into a fund in Russia or Cyprus, but into severance pay.
The prime minister also said the Government wants to amend the legislation to allow harsher sanctions for employers failing to meet certain obligations, such as the payment of severance. He pointed out, however, that the government will not become “overprotective” and thus discourage investors.
Mechel has recently sold its Romanian assets to local company Invest Nikarom SRL for a nominal sum of 230 lei (around EUR50).
Invest Nikarom, controlled by two Russian nationals, acquired Mechel Group’s five assets in Romania, namely Ductil Steel Mechel, Campia Turzii S.A., Mechel Targoviste S.A., Mechel East Europe Metallurgical Division SRL and Laminorul S.A.
The five companies employ around 7,000 staff.
Evgeny Mikhel, Chief Executive Officer of Mechel, said the five Romanian units are expected to post a combined loss of some EUR59.6 million in 2013.