Minister Videanu u-turns on majority stake for nuclear project
Romania plans to reduce its 51 per cent stake in the project company established to build reactors 3 and 4 of the Cernavoda nuclear plant, EnergoNuclear, according to Economy Minister Adriean Videanu
June 2010 - From the Print Edition
The previous Government had initially planned to only hold a minority stake in the company, but increased this to 51 per cent in order to retain EnergoNuclear as a strategic asset.
But now Videanu has u-turned because the Government fears it cannot raise the cash necessary to contribute to the multi-billion Euro deal.
The Minister responsible for Romania’s energy strategy confirmed to Hotnews that the stake could drop to between 20 per cent and 34 per cent.
The construction of the two new nuclear reactors in the existing Constanta county power plant has been on hold for a year because the Government does not have at its disposal enough funds to support the project.
At present, Czech Republic’s CEZ, French-Belgium conglomerate GDF Suez, Italy’s Enel and Germany’s RWE each own a 9.15 per cent stake in the company, with Spain’s Iberdrola and steel giant ArcelorMittal each holding a 6.2 per cent.
Videanu’s announcement has been welcomed by the companies which have been pushing the Government to move forward with the project.
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