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Investors propose Romanian state to reduce its participation in Cernavoda project

The investors selected for the construction of reactors 3 and 4 at Cernavoda based plant have proposed the State, which has 51 per cent of the project, to diminish its participation, and the final agreement of the structure of the project company could be concluded until November 30.

"There are propositions and talks with investors and from investors for the state to reduce its participation. I hope we finalize the agreement with the state until November 30," according to those declared on Friday by Adrian Borotea, corporate affair manager at CEZ Romania, within a workshop on environment and energy aspects.

Borotea added that none of the investors intended, so far, to reduce participation. CEZ negotiates a participation of 9 per cent in the investment. The participations of the six investors have been proportionally diminished following the state decision to raise its participation in the project from 20 to 51 per cent, which has resulted in talks being on hold for a few months.

Based on market sources, the state participation may diminish provided that it does not meet its investment commitments in this project. Direct natural gas imports from Gazprom would reduce prices significantly. The direct natural gas imports could result in prices being cut by a few thousand percentages, and Romania should negotiate the natural gas acquisition with Gazprom, without intermediaries, Borotea added.

 

Sursa: http://www.nineoclock.ro

Tags: participation investors state project reduce

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