Romanian state-owned electricity producer Hidroelectrica has asked its shareholders’s approval to start refurbishing the power plant at Mariselu, in Cluj county.

The total investment in this project amounts to EUR 64.5 million, without VAT, reports local Economica.net. The producer will pay for the revamping work from its own funds. The work needs to be completed in 36 months.

The plant needs refurbishment, due to the equipment’s wear. The feasibility study for the work was carried out in 2011.

Hidroelectrica has been under insolvency since June 2012 and is expected to exit insolvency this year.

editor@romania-insider.com