An international tender will be called within a month. More attractive conditions for investors, but the plants remain shutdown.
At a meeting held yesterday at the Ministry of Economy the decision was made to publish a new international tender within a month. This tender will have more attractive conditions for potential investors, while restarting the plants in the meantime remains out of the question. “All the economic indicators are against starting up the plants both in terms of overall costs and market dynamics,” is a comment found in the minutes issued at the end of the meeting.
“The tender will have more attractive conditions and make the purchase of Vinyls more profitable,” continues the document. "In fact, with the demand and the confirmed willingness of the ENI Group to cooperate, the new tender will have even more affordable conditions. Supply and utilities will be guaranteed under fair conditions for all and the assets for the integration of the Chlorine cycle (which is still belongs to ENI) will be negotiable.”
On the other hand, the party that takes over all of the Italian CVM-PVC assets must be “financially solid and reliable, and must guarantee continuity for 4 years.”
“The Vinyls issue requires utmost transparency and straight negotiations,” explained Stefano Saglia, the Under Secretary of the Minister of Economic Development delegated management of companies in financial crisis. "We have begun a new approach that, we hope, will lead to positive results.”
The next meeting is scheduled for 23 July.