The shareholders of Romanian nuclear company Nuclearelectrica (SNN) will meet in April to endorse the revised strategy for building two new reactors at the Cernavoda nuclear plant under the memorandum signed with partners from the United States, Canada, and France, Profit.ro reported.

The project's cost is estimated at EUR 7 billion, slightly lower than the EUR 7.2 bln estimated under the failed partnership with China General Nuclear Power five years earlier.

The main concern identified by the company's management is related to keeping the project within the initial budget envelope - since spending above budget is very frequent for such projects.

Nuclearelectrica wants the engineering, procurement, and construction contracts for the new reactors to provide firmly fixed prices, according to the revised strategy.

The Romanian state controls 82% of Nuclearelectrica's shares through the Energy Ministry.

The project for building the third and fourth reactors at the Cernavoda nuclear power plant will be developed by EnergoNuclear, a company wholly owned by Nuclearelectrica.

(Photo: Adrea/ Dreamstime)

andrei@romania-insider.com