More than 10 investors might submit binding bids for Oltchim S.A. (BVB:OLT) petrochemical plant, the company's administrator said. Oltchim, which is 54.8% owned by Guvernul României was declared insolvent in 2013. The Romanian authorities have repeatedly attempted to privatise the plant but without success. Oltchim has now been put up for sale in nine asset bundles. In March, Oltchim announced that it was extending the period for submission of binding bids for its assets until June 26. "This sale procedure of Oltchim's assets has raised interest both on the local market, from Romanian investors, and the international market, from international investors. In this respect, competition has been created which will surely lead to a successful transaction," the petrochemical company's administrator, Bogdan Stanescu, said. "There are more than 10 investors who have submitted non-binding offers and who want to enter the race for the acquisition of Oltchim assets. All the non-binding offers submitted by the potential investors fully cover all nine asset bundles put up for sale by the judicial administrators BDO and Rominsolv," Stanescu added.