Romanian oil & gas company OMV Petrom will allocate between EUR 29 million and EUR 177.5 million to build a unit for condensing hydrocarbons at Hurezani, in Gorj county.

OMV Petrom will organize a public auction to select the company that will design, acquire, build, and put into operation the unit, reports local Economica.net.

The bidders need to have a turnover of at least EUR 56 million in the last three years. They can submit offers until March 9.

The project should be finalized in 670 days after the attribution date. OMV Petrom will allocate the money from its own funds.

The Austrian company OMV has a stake of 51.5% in OMV Petrom whereas the Romanian Economy Minister has a stake of 20.64%. Investment fund Fondul Proprietatea also has a stake of 20.1%.

editor@romania-insider.com