Romanian Oltchim To Work On Debt Payment Schedule With Electrica

“Oltchim’s debt to Electrica will be settled by setting a payment schedule agreed by both parties,” the chemical company said in a statement.

Oltchim will pay an interest rate equal to the rates charged by commercial lenders, the statement noted.

The chemical company confirmed the information published by Mediafax Wednesday that its contract with Electrica was terminated. Oltchim signed a new electricity agreement with Electrica Furnizare, the delivery arm of Electrica.