JUNE 18, 2008 - Romanian state-owned nuclear power company Nuclearelectrica is to own 51% in the company that will build reactors 3 and 4 of Romania's sole nuclear power plant at Cernavoda, Romanian news site businessstandard.ro reported late Tuesday.
The news site said that the Cabinet will approve at its Wednesday meeting the increased participation of the state in the construction of the two new reactors, while it will also identify the financing sources, which are to come from privatization revenues.
Romania earlier selected all six companies that submitted bids for building the reactors, and established a joint venture for the project between Nuclearelectrica and the six foreign investors – Czech Republic's CEZ, Arcelor-Mittal, Belgium's Electrabel, Italy's Enel, Spain's Iberdrola and German power firm RWE.
Romanian Economy Minister Varujan Vosganian noted earlier that the idea to raise the contribution of the state emerged after a public opinion survey showed that Romanian citizens would feel safer if the state controlled the project.
The news site said that once the government approves the project's new strategy, negotiations will resume with the six investors.
The third and fourth blocks of the Cernavoda nuclear power plant will each have a 700 MW capacity, each expected to produce about 5.2 TWh of energy a year. The construction of the two reactors is planned to start in 2008, while they are expected to be connected to the national grid in 2014 and 2015, respectively. The total cost of investment is estimated to come in at around EUR 2.2 bln.
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