Romanian chemical group Chimcomplex, which operates two platforms in Burzesti and Ramnicu Valcea, purchased some assets from the bankrupt heat and power producer CET Govora for EUR 8.2 mln and plans to develop a combined cycle power station on the site.

CET Govora is close to Ramnicu Valcea, where Chimcomplex owns the platform purchased from bankrupt Oltchim and delivers heating to the municipality.

The package of assets purchased from CET Govora consists of a 110 Kv power station; solid fuel warehouse; chemical water treatment section; natural gas connection; buildings and land.

"The assets will be integrated into the investment strategies of Chimcomplex, and will be used for the development of a cogeneration plant of high capacity and high efficiency," reads the report published at BVB.

The capacity is planned to cover the consumption of electricity and heat of Chimcomplex' industrial platform in Ramnicu Valcea and hopefully, in collaboration with local authorities, the municipality's consumption of heat.

andrei@romania-insider.com

(Photo source: Chimcomplex)