Romanian Gov Assigns Funds For 2nd Nuclear Pwr Plant Feasibility Study –Econ Min

"We assigned the funds for the feasibility study of the second nuclear power plant and we aim to start the construction of the nuclear reactors 3 and 4 of the power plant in Cernavoda in 2008," Vosganian said.

The country’s sole nuclear plant in Cernavoda operates with two reactors, which provide around 18% of the country’s power needs, but it has initially been designed to have five reactors, of 700 megawatts each, on Canadian CANDU-type technology.

The construction of nuclear reactors 3 and 4 is estimated to be completed between 2014 and 2015, in a EUR2.2 billion investment.

Nuclearelectrica, the operator of the nuclear plant in Cernavoda, is 90.5% state-owned, while Romania’s investment fund Fondul Proprietatea owns a 9.5% stake in the company.

Romania selected six companies in 2007 interested in building the nuclear reactors 3 and 4 at Cernavoda. The companies are ArcelorMittal’s Romanian unit (MS), Czech Cez AS (BAACEZ.PR), Belgium’s Electrabel, Italy’s Enel SpA (ENEL.MI), Spain’s Iberdola SA (IBDRY) and Germany’s RWE AG (RWE.XE).

The second nuclear power plant in Romania will have between two and four reactors and the construction works are seen starting around 2020, the director general with Nuclearelectrica Teodor Chirica said in March.

The European Commission sees Romania as one of the most developed countries in the reform of energy market, Vosganian also said.