The contract was signed Monday and it enables Oltchim to take over the installations, plots spanning over a total 21,000 square meters and buildings with a total surface of 5,000 sqm.
Oltchim bought in January 2010 Petrom’s petrochemistry operations at the Arpechim refinery, which it needed for raw materials.
The chemical plant’s shares closed up 6.82% Tuesday, to RON0.47. Its stock is 54.79% owned by the state, while German PCC SE holds 12.15%.
Petrom, majority owned by Austria’s OMV, closed down 3.1% at RON0.4155. (EUR1=RON4.0885)