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Romania to finalise talks on new NPP units with China's CGN by yr-end - report

Author Radomir Ralev
Romania to finalise talks on new NPP units with China's CGN by yr-end - report Author: Nuclearelectrica Licence: All Rights Reserved.

BUCHAREST (Romania), July 29 (SeeNews) - Nuclearelectrica [BSE:SNN], the operator of Romania's sole nuclear power plant (NPP) Cernavoda, plans to complete this year talks on the construction of Units 3 and 4 at the plant with China General Nuclear (CGN), Romanian energy minister Anton Anton said on Monday. 

The negotiations will be finalised this year, and if there are no positive results, Nuclearelectrica will be able to build the reactors on its own, Anton told a news conference, as quoted by Romanian news agency Mediafax.

"We have to pay a normal price, not an exaggerated one," Mediafax quoted Anton as saying.

In May, Nuclearelectrica signed a preliminary investors agreement (PIA) with CGN and CGN Central and Eastern Europe Investment (CEERI) for the construction of Units 3 and 4 at the NPP. 

The agreement envisages the establishment of the project company (JVCO) which will be the only technical and operational platform for the subsequent development of the project. The JVCO is a joint-stock company that will exist for at least two years. CGN will have a stake of 51% in the project company, while Nuclearelectrica will have 49%.

The Cernavoda plant, located in southeastern Romania, has two reactors of 700 megawatts each, which meet roughly a fifth of the country's electricity needs. Romania's energy ministry owns a 82.49% stake in Nuclearelectrica.