Romania would like to re-start discussions with CEZ, RWE, Iberdrola and GDF Suez over their involvement in the Cernavoda 3 and 4 reactors project, after the companies withdrew from the project. “We invited the four companies to discussions to re-start the project at Cernavoda. We are awaiting for an answer,” said Rodin Traicu, state secretary with the Economy Ministry in Romania.

He said the reasons that triggered the four companies to withdraw from the project are no longer valid. The companies withdrew early in 2011 because of economic uncertainties surrounding the project related for the most part to the financial crisis. The state no longer intends to hold the majority stake in the project. Arcelor Mittal and Enel gave reassurances that they will continue to be involved in the project for at least a year, said Rodin Traicu.

Meanwhile, other companies showed interest in the Cernavoda project. Romania's Economy Ministry, via Nuclearelectrica, currently owns 86 percent in the Cernavoda project company. In 2011, four companies sent letters of intent for the project, and later on during the same year, a Korean consortium also showed interest in the Cernavoda nuclear developments.

Nuclearelectrica's profit in 2011 was up five fold, to some EUR 18.8 million, while its turnover stood at EUR 348 million.

editor@romania-insider.com