Romanian CNH Could Be Divided In Two Cos – Hidroelectrica Boss

Romanian state-owned company CNH could be divided into two companies, one of which would be later closed, Tuesday said Mihai David, general manager of hydropower generator Hidroelectrica.

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"One of the two companies would hold the Petrila, Uricani and Paroseni, which would lated be closed. The other company would take over the mines Lonea, Livezeni, Vulcani and Lupeni," David told a press conference.

The goal of the operation, David said, would be to enable upcoming power giant Hidroenergetica to conclude long-term coal-purchase contracts with the Lonea, Livezeni, Vulcani and Lupeni mines.

"Hidroenergetica could absorb these four mines, or work in partnership with them," David added.

The Romanian Government plans to create two national energy giants, Electra and Hidroenergetica, which would cluster the bulk of state-owned electricity and coal production units.

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