Last two private investors in Romania's planned nuclear power plant expansion leave project

The last two private companies still involved in the expansion of the Cernavoda nuclear power plant have left the project company. Enel and ArcelorMittal withdrew from the project company Energonuclear, which should build the third and fourth reactors at Cernavoda. Romania's state owned Nuclearelectrica will become sole shareholder in the project. The two companies join other foreign investors who decided to withdraw from the project back in 2010, CEZ, GDF SUEZ, Iberdrola and RWE. Enel had a 9.15 percent package, while ArcelorMittal Galaţi, 6.2 percent. Enel explained its decision by highlighting a potential new majority shareholder in the project company, while Arcelor Mittal cited the challenges of the business environment. Once notified of their intention, the Romanian state has to buy their shares into the project at a price equal to 80 percent of the nominal share price. The project, evaluated at some EUR 6.5 billion, is one of Romania's major projects, as nuclear power covers 20 percent of its energy production. A Chinese company, General Nuclear Power Corporation showed interest in Romania's nuclear power plant expansion project. editor@romania-insider.com