Oltchim to commence negotiations for acquisition of Petrochemicals Arges

Oltchim Ramnicu Valcea is to commence negotiations for the acquisition of Petrochemicals Arges. Petrochemicals Arges encompasses petrochemical operations of Romanian oil firm Petrom's Arpechim Pitesti refinery. If an agreement is reached, Oltchim plans to invest 100 mln Euro to expand production capacity from 200,000 tpa of ethylene to 300,000 tpa. Oltchim also plans to retool and expand production capacity of the pyrolysis installation, estimated to cost 100 mln Euro.
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