The shareholders of Nuclearelectrica, the state-owned company that operates Romania’s only nuclear power plant, agreed yesterday to distribute special dividends worth RON 110 million (EUR 24 million) following a request from the Government.

The special dividends will be paid at the beginning of November.

The company’s shareholders also agreed to kick off a project to rehabilitate the first unit within the Nuclearelectrica complex. The plant’s refurbishment is one of the most important projects carried out by a Romanian energy company. It will secure another 30 years of operation and production for the unit, which started to operate in 1996. The project is estimated at USD 1-1.5 billion and should be completed in 2023.

In the last weeks, the Government has asked some of the most profitable state-owned companies to grant dividends in addition to those already paid from last year’s profits, leaving them with less funds for investments. The list of companies includes power producer Hidroelectrica and gas producer Romgaz.

editor@romania-insider.com