Rising Electricity Prices Hit Romania: Factory Stops Production

Energy crisis in Romania: Romania's largest chemical plant, Chimcomplex Borzești, announced a 14-day suspension of production due to rising electricity prices.

In a statement recorded by the Bucharest Stock Exchange (BVB), the Chimcomplex Borzești chemical plant has decided to suspend its production activity for 14 days starting from today due to rising electricity and natural gas prices. The employment contracts of the employees are suspended during this period and 75% of their salaries will be paid according to the legal provisions in force and the collective bargaining agreement. Chimcomplex Borzești made a profit of 33.5 million euros in the first six months of this year. This figure was 40 percent lower than the same period last year. The Alro Slatina aluminum plant, the Azomureș fertilizer plant and the Alum Tulcea aluminum refinery had also decided to temporarily suspend their operations in recent months due to rising energy costs.