Turkey Left Out as Bulgaria and Romania Prepare for Schengen Membership
Turkish media outlets have reacted strongly to the anticipated accession of Bulgaria and Romania to the Schengen Area
Chinese Corporation to Build Romanian Nuclear Reactors
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A picture of Unit 1 of Romania's NPP in the Danube city of Cernavoda. Photo by www.cna.ca
China Cheneral Nuclear Power Corporation (CGN) has been selected as the investor to develop two 740-MW units at the Cernavoda NPP, the Romanian state-owned energy utility Nuclearelectrica has said.
Nuclearelectrica and CGN signed in November 2013 a letter of intent about the projects, but the Chinese entity is now the winner of the tender to construct units 3 and 4, after also being the single bidder, Romania Insider reports.
A joint venture is to be set up where CGN will be the majority shareholder.
Previous estimates had suggested the project would carry a price tag of EUR 6.5 B, but the last feasibility study is now expected to be reviewed. Initially it was expected construction would cost about EUR 4 B.
Negotiation and signing of a memorandum of understanding about the joint implementation of the project are the next steps to be expected.
The two Canadian CANDU-type, 700-MW reactors operating now at the Cernavoda NPP in the country's south-east account for nearly a fifth of Romania's annual electricity needs.
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