Cernavoda nuclear plant''s Reactor III project estimated at approximately 1bn euros will be conducted in form of a joint venture between the Romanian party and the investors selected, which will own the controlling interests in the new project company, sources with the Ministry of Economy and Trade told Ziarul Financiar.
The state selected seven companies for the Reactor III project, i.e. Anglo-Indian LNM Holdings group (the owner of Sidex Galati, one of the main consumers of electrical power in Romania), Enel (Italy, the owner the of the Dobrogea and Banat electricity distributors), Ansaldo (Italy), Atomic Energy of Canada Limited, (involved in the completion of Reactors I and II of Cernavoda), Korea Hydro Nuclear & Power (South Korea), AFEN (Association of Nuclear Power Equipment Suppliers) based in Romania, and Cem Demir (Turkey), which will be able to contribute capital in order to gain an interest in Reactor III''s project company. Besides Nuclearelectrica, the Romanian state has also announced plans to have Electrica involved in this project, as the power distributor and supplier is interested to invest the money it got from the privatisation of its branches in Reactor III.
AFEN comprises Romanian suppliers of equipment used in the construction of nuclear power plants. The suppliers include Automatica Bucharest or companies part of the Tender Group, such as Vulcan Bucharest, and Fabrica de Echipamente pentru Centrale Nuclearelectrice (Nuclear Power Plant Equipment Factory - FECNE). "The solution recommended by the financial consultant of the project to complete Reactor III, Deloitte & Touche advisory firm, was to resort to a joint venture between the Romanian state and the investors that will provide the necessary capital for the project. Reactor III may not be completed by using a public-private partnership because it does not meet the
