Romania's state-controlled nuclear power producer Nuclearelectrica (SNN), which operates two reactors and plans to develop two more, summoned its shareholders to approve the takeover of assets from the National Uranium Company (CNU), Economica.net reported.

CNU has been recently subject to repeated insolvency requests due to its precarious financial condition.

In February 2020, Euratom opposed Nuclearelectrica's intention to buy refined uranium from CNU because the price was 50% above that charged by a Canadian supplier (hence the deal would have represented state aid).

SNN will purchase the assets from CNU through direct negotiations. The price envisaged for the uranium processing line currently located at Feldioara is reportedly EUR 9 million.

The company's shareholders approved in 2018 a Strategy for the diversification of the raw material (processed/refined uranium) resources. Through specific studies, SNN decided to process the uranium ore at the Feldioara factory by taking over the processing line from CNU.

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andrei@romania-insider.com