Romgaz could take over chemical fertilizer factory from Interagro

Romgaz, the Natural Gas National Company, is about to change into a big corporation that has more filed of activities apart from its main. While it is building a new gas-powered power plant in Iernut, it is about to take over a chemical factory from Interagro on the account for old debt.

The company announced that it is interested in taking over a factory of chemical fertilizers from Interagro through its president, Liviu Nistoran, cited by Agerpres.

“Interagro (a company in insolvency) has more factories and a big debt to Romgaz, so we think we can recover this debt through a transaction of assets including one of this factories, with products that already have a market. We have sent a notification in this sense to the judicial administrator of Interagro three-four weeks ago,” said Nistoran.

He refused to say which of the factories are in Romgaz’s attention, stating that there is still no acceptance of Interagro’s judicial administrator to publish this information.

“We have neither a budget nor a location to consider for this project now. The General Meeting of Shareholders Romgaz has approved the diversification of Romgaz’s products and we choose petrochemistry because we have a much higher added value for the gas we extract,” said the Romgaz official.

Read more about

Analysis Gebrüder Weiss Romania: Transport and logistics market in 2024 – from challenges to opportunities

read more

With the exploitation of Black Sea gas resources, the market will have a surplus of gas, Nistoran explains.

“Our solution to this surplus is, on the one hand, gas power plants and, on the other hand, petrochemicals,” he said.

Nistoran attended a conference on Romania’s energy market opportunities in the context of the Romanian presidency at the EU Council.

Romgaz is currently building a new gas-fired power plant in Iernut and is considering a new project for a 400 MW power plant in Deva, where the investment will be about EUR 300 million.