Romania's state-controlled company Nuclearelectrica (BVB: SNN) signed with Candu Energy, an AtkinsRéalis company, and the Canadian Commercial Corporation (CCC), a federal state corporation, a contract worth EUR 525 million (CAD 781 million) to extend the life of Unit 1 of Cernavodă nuclear power plant.

The contract was signed at the World Nuclear Exhibition in Paris.

Entry into force of the contract is subject to approval by the SNN General Meeting of Shareholders, with CCC receiving final approval from the Canadian government.

"The life extension of Unit 1, as well as the two future CANDU units we plan to develop, will bring multiple benefits to Romania: the preservation of high-quality jobs as well as the creation of new jobs, investments in the community, an important contribution to the local and state budget, as well as projects for the local supply chain, as part of our vision to create a sustainable future for generations to come", said Cosmin Ghiță, CEO of Nuclearelectrica SA.

iulian@romania-insider.com

(Photo source: Facebook/Nuclearelectrica Oficial)