Economy Min.: Romania can become major electricity exporter in 10 years

Romania could become one of the major electricity exporters in the South East of Europe in the next eight to ten years, according to the Economy Minister Adriean Videanu, quoted by Reuters. The Government's plan to create two holding companies from state-owned electricity producers by the end of June will stimulate competition and increase production efficiency, said Videanu. The project was halted by a Competition Council ongoing investigation, but Videanu hopes it will yield a favorable result by the end of June. The new companies will require between EUR 4 to EUR 8 billion in investments to comply with EU's environment standards and to increase efficiency. The entire energy sector in Romania requires new electricity production units, so the needed investments in this sector reach several tens of billions of euros, said Videanu. These funds should come from the state's partnerships with private investors in the energy field. Several private investors showed interest in Romanian energy projects, among which Enel, CEZ. RWE and GDF Suez. Selling the state's minority share packages in energy companies could generate around EUR 2 billion this year and in 2011, according to Videanu, who also hopes Romgaz will be listed on the stock exchange this year.