Canada extends CAD 3 bln trade credit for Romanian nuke project
The Canadian state has decided to make available to the Romanian state company Nuclearelectrica (BVB: SNN) trade credits of up to CAD 3 billion, intended to finance the project of units 3 and 4 of SNN’s Cernavodă plant.
iulian ernst · Journalist
· Updated · 1 min read
The Canadian state has decided to make available to the Romanian state company Nuclearelectrica (BVB: SNN) trade credits of up to CAD 3 billion, intended to finance the project of units 3 and 4 of SNN’s Cernavodă plant.
The total estimated costs of the project exceed USD 7 billion.
Romania’s sole nuclear plant, located at Cernavodă, is using CANDU technology of Canadian origin, and units 3 and 4 will be developed by Canadian companies, explained the Ottawa authorities, quoted by Profit.ro.
The financing promised by Canada is roughly equal to that promised by the United States for the same project through the main export credit agency of the American state, Exim Bank US. The US credit will finance the contracts of American services intended for the project.
In the summer, energy minister Sebastian Burduja said that the US, Canada and South Korea would finance the project of reactors 3 and 4 at Cernavodă, noting that other external partners, such as the United Arab Emirates, could join.
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