Japanese conglomerate Marubeni to build EUR 150 mln power plant in Romania together with state company

Japanese corporation Marubeni, with a profit of over EUR 1.6 billion, and the Romanian state – owned electricity and heat producer Elcen will together build a EUR 150 million power plant in Fantanele, Mures county, based on a recently signed agreement. The project, whose capacity should reach 250 MW, should see construction work start next year. In a press conference, the Elcen general manager Dan Ştefan Cetacli said the financing scheme is yet to be established. Expected to start in maximum one year and a half, construction should last for a maximum of three years. Once completed, the power plant will be operated by a separate firm, which will be created via dividing Elcen, while the Japanese corporation will be the majority shareholder in the new firm. The president of Marubeni Europower Hiroshi Tachigami also attended the conference in Romania and expressed interest in taking part in other energy projects in Romania, such as coal – fueled electrical plants and nuclear electrical plants. Marubeni has several areas of activity, including environmental, food materials, chemicals, energy, transportation machinery, plant and industrial machinery, and lifestyle and forest products among others. The corporation had a record net profit of some EUR 1.6 billion (the equivalent of JPY 205 billion) in the previous financial year and a turnover of some EUR 82 billion. editor@romania-insider.com