Romanian electricity producer Nuclearelectrica, which operates the country's nuclear power plant in Cernavoda, estimates that it will reach an agreement with the Chinese group China General Nuclear Power Corp for developing the Cernavoda Nuclear Power Plant Units 3 and 4 project by the end of the year.

The Chinese group won the tender organized by the Romanian state last fall. It was the only company which submitted an offer to build the Units 3 and 4.

The project is estimated at some EUR 6.45 billion. Most of the investment will be covered by the Chinese investor, which will hold at least 51% of the project, reports local Mediafax.

Nuclearelectrica will contribute with some existing assets. However, the feasibility study will be revised.

The Romanian state holds an 81.3% stake in Nuclearelectrica and investment fund Fondul Proprietatea (FP) has 9.7% of the shares, with the remaining 9% held by private investors on the Bucharest Stock Exchange.

editor@romania-insider.com