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China interested in investing EUR 3 billion in Romania, says minister after Beijing talks


Chinese banks are interested in funding projects worth more than EUR 3 billion in Romania, according to Romania’s Department for Infrastructure Projects and Foreign Investments (DPIIS).

In a press release today, DPIIS said the investments could either be channeled through Chinese companies developing projects in Romania or by participating in the privatization of Romanian companies.

Minister-delegate for Infrastructure Projects and Foreign Investments Dan Sova met representatives from the China Investment Corporation (CIC), China Development Bank and China Exim Bank in Beijing last week.

As part of his meetings, Sova presented Romania’s priority projects for the near future, including a bridge over the Danube in Braila; a portion of the Transylvania Motorway left unfinished; a water power station at Tarnita-Lapusesti that is directly linked to terminals 3 and 4 of Cernavoda, as well as the Pitesti-Craiova Motorway.

The release noted the CIC’s interest in the privatization of Romanian state companies, 11 of which are currently undergoing privatization.

Set up in 2007, CIC, invests in long-term business, with most of its investment projects in the US and Western Europe.

China Development Bank has requested Romanian officials to develop detailed presentations and financial estimates of the country’s priority investment projects by November, prior to investment procedures moving forward.

Sova is presently attending the works in Beijing of the Romanian-Chinese Governmental Committee on Economic Cooperation.

In July Romanian Prime Minister Victor Ponta, met Chinese president Xi Jinping and the Prime Minister Li Keqiang in a bid to attract some Chinese investments to Romania, focusing on the Cernavoda nuclear power plant and the hydro power plant in Tarniţa-Lăpuşteşti.

By Shaun Turton, shaun@romania-insider.com

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