The strategy for development of Romgaz, the most important state-owned gas producer in Romania also includes investments in the chemical industry, especially in the production of chemical fertilizers, says Liviu Nistoran, chairman of the Board of Directors of the company.
Romgaz intends to invest around 1 billion euros in the chemical industry. Romgaz has the power to make major investments as its level of indebtedness is zero and its turnover is rising. In 2017, the company had a profit of 1.8 billion lei, up 81% over the previous year, and a turnover of 4.58 billion lei, up 34%, according to Hotnews.ro.
“Why not offering more value-added products such as chemical products?” Nistoran said.
Romgaz could take over one of the plants from Interagro, a group controlled by businessman Ioan Niculae. Interagro has been in insolvency since February 2016, with its largest creditor being Romgaz, which has to recover about 284.2 million lei, representing 23.5% of the total debts to creditors.