Romanian chemical holding Chimcomplex (BVB: CHOB), founded and controlled by local businessman Stefan Vuza, announced that it completed preliminary studies and will include in its development strategy some partnerships and possibly the takeover of Rompetrol (KMG International).

According to a company's note to investors, a proposal regarding the takeover of Rompetrol, which owns the largest refinery in the country, a smaller refinery and a petrochemical platform, will be submitted in the first part of 2022.

Separately, the company announced that the European Clean Hydrogen Alliance selected for further review three projects submitted by Chimcomplex under the GreenComplex strategy aimed at the production of hydrogen, industrial hydrogen (as raw material) and fuel hydrogen (for heating).

To finance the projects mentioned, Chimcomplex will issue bonds in the first part of 2022. The company has already selected Rothschild & Cie for advisory services. 

On the occasion of its third Hydrogen Forum, the European Clean Hydrogen Alliance published a pipeline of projects that the European industry is undertaking to create the European hydrogen economy at a large scale. Featuring more than 750 projects, the pipeline is testimony to the size and dynamism of the European hydrogen economy. Projects are located in all four corners of Europe and range from clean hydrogen production to its use in industry, mobility, energy, and buildings.

andrei@romania-insider.com

(Photo source: the company)