Cernavoda nuclear plant development may be delayed

Tuesday, July 29, 2008

CEZ Romania expects the construction of the third and fourth reactors at the Cernavoda nuclear plant to be delayed about one year. On the other hand, CEZ bought in Eastern Romania a wind energy project evaluated at 100 million euro.

"We haven't been invited until now to continue the negotiations for the construction of the two Cernavoda rectors", said the CEZ Development Manager, Doru Voicu, who added that the company also waits for a response from Termoelectrica, in order to establish a partnership and build two thermal plants.

At the end of June, the Government decided that Nuclearelectrica should own at least 51% of the social capital of the company which will handle the project for the two new reactors in Cernavoda. The total cost of the project is 4 billion euro.

According to NewsIn, the growth of the stock participation of the Romanian state may stir discontent among investors and some may even not agree with several articles in the Agreement.

The negotiation process with the group of six investors - ArcelorMittal, CEZ, Electrabel, Enel, Iberdrola and RWE Power - begun in December 2007.

Posted in |