The Romanian Prime Minister’s Control Body has examined four of the eight joint venture contracts concluded in the last four years by Romania's State Patrimony Administration RA-APPS, and has found damages of at least RON 12 million (EUR 2.6 million).

The PM’s Control Body started the control with the official aim to better capitalize on the assets of RA-APPS, but found that the contracts only favored the companies that were in association with RA-APPS, while they caused damages to the State Patrimony Administration, reports local Mediafax. The damage is estimated at over RON 12 million, without including the lack of profit.

All the eight contracts were concluded without transparent and objective criteria regarding the conditions that the partners needed to meet in such contracts, and without asking them for guarantees, according to the report compiled by the Prime Minister’s Control Body.

editor@romania-insider.com