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Iakov Goldovskiy, the majority shareholder in the Onesti-based refinery RAFO has decided that the refinery resume operation after more than one year after production was halted, according to Ion Marian, the RAFO union leader.
The decision allegedly follows "serious talks" between the shareholders and the union at the Ministry of Economy and Finance and shortly after a visit by PM Calin Popescu Tariceanu in Bacau County. The visit apparently included a meeting with Ion Marian.
During the suspension period, RAFO shareholders ensured good maintenance of the refinery, paid all due taxes and current bills but still decided to keep operations in stand-by as no agreement was reached on the largely overdue debts logged at the time when the refinery had changed owners. All of the 2,600 employees of the refinery remained employed during the respective period and continued to receive their salary.
RAFO is regarded as one of the most modern refineries in Eastern Europe following significant technological upgrades. An additional 250 million USD investment program is in the pipe. The refinery was originally designed and built in the 1970s. The already commissioned technology allows the production of EURO4 fuel at 60% of capacity and EURO5 fuel at 40% of capacity.
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