Insolvent Fertiliser Plant Chimco Put Up for Sale at 15 Mln Euro

Insolvent Fertiliser Plant Chimco Put Up for Sale at 15 Mln Euro

The assets of insolvent Bulgarian fertliser plant Chimco have been put up for sale at a starting price of nearly 29 million levs ($20.3 million/14.8 million euro), bTV station reported.

Chimco's land, buildings, production and engineering facilities, equipment and vehicles will be auctioned on March 19, bTV said, adding that the tender  procedure started at the request of Chimco’s trustee after a decision of the Vratsa regional court.  

Chimco, which halted operations in 2003,  used to be Bulgaria's biggest urea producer with an output capacity of 800,000 tonnes annually, accounting for approximately 3.5% of global production. The plant produced ammonia, carbon dioxide, argon and various types of catalysts, as well. It was declared bankrupt in 2004.

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