Romania's Romgaz says Spanish contractor for Iernut power plant lags again behind schedule

Romania's natural gas company Romgaz (BVB: SNG) announced that the Spanish contractor Duro Felguera dedicated only 70% of the resources pledged under the contract for the completion of the Iernut gas-fired power plant, and consequently, only 91% of the project was so far completed, according to Ziarul Financiar quoting the Romanian company's H1 financial report.

Progress of the New Works Contract, signed on March 31 this year with the Spanish company, was only 54.8% at the end of July 2024, the Romgaz documents state.

Some procurement procedures were, in turn, postponed by appeals or took longer for clarifications, the company explains.

Romgaz says that exceptional mobilization from the Spanish at Duro Felguera is necessary to finish the project on time, namely in 2024.

Started in 2016, with a completion date of 2019, the Iernut plant is not yet ready.

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