“By 15 April, Rafo’s management and the investor will have to file, together with the banking partner, a project with the Ministry of Finance regarding the loan it wants to obtain based on a governmental guarantee,” said Ion Marian, the union leader of Rafinorul.  The request was made during a visit of Rafo officials to the Prime Minister. Marian added that, for obtaining the loan, Rafo’s management negotiated with several banks, including Citibank and Raiffeisen Bank, but “due to the economic crisis and financial blockages, no bank is granting loans without governmental guarantees.”

According to Marian, a study indicated that the development project is viable, considering that the company is foregoing gas production, which would be replaced by products that could be used as raw materials for the chemical industry. “The analysis included a 10-30 year period, and the study indicated that in this way we will be able to make a profit and pay back the loan,” Marian added.