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Romania’s Budget Has No Funds For Nuclearelectrica Projs – Fin Min

Romania’s 2010 budget does not include funds for projects of state-run nuclear energy producer Nuclearelectrica, and a solution for the future two reactors at Cernavoda power plant is the public-private partnership, Finance Minister Sebastian Vladescu said Wednesday.
Romania’s Budget Has No Funds For Nuclearelectrica Projs - Fin Min
20 ian. 2010, 15:07, English

He added afterwards that financing Nuclearelectrica has not been discussed yet and a partnership would be his personal option.

The nuclear power plant in Cernavoda currently has two reactors of 700 megawatts power each, which provide around 18% of the country’s electricity consumption.

The authorities plan to build another two nukes at Cernavoda, which are scheduled to become operational by 2015-2016. They will be built by a consortium made up of seven companies, in which Nuclearelectrica, the operator of the power plant, owns a 51% stake. The project has been evaluated at EUR4 billion, so that the state-run company should contribute with more than EUR2 billion.

As regards privatizations, Vladescu said they are not a priority for the government, due to the current international market conditions.

In turn, Jeffrey Franks, head of the International Monetary Fund’s mission in Romania, said the Fund asked the local government to reform state-run companies, without expressly recommending the sale of the respective companies.

„We asked for the reorganization of state-owned companies. Privatization is one of the methods,” Franks said.