Russian steel giant Mechel is selling its Otelu Rosu plant to a Turkish company for €19m, according to local media reports. The name of the buyer was not disclosed. The plant, covering 16 ha, shut down five years ago, and news outlets are reporting that the property may be turned into an industrial park. “Otelu Rosu steel plant has not been sold yet, but there are very advanced discussions on this topic. … Mechel has debts of €20m to the state budget, and it will get €19m for the sale of the plant,” Otelu Rosu Mayor Luca Malaiescu was quoted as saying by romaniajournal.ro. “Everything Mechel owns in Romania is seized because of its debts.”
