Bogdan Tudorache

Investing into Reactors 3 and 4 of the nuclear power plant in Cernavoda does not make financial sense, and due to the sanctions imposed by the US to the Chinese companies, the project with the Chinese company CGN may not happen, says Johan Meyer, CEO Franklin Templeton Investments and Fund manager of Fondul Proprietatea.

“Any possibility of investing in the Reactor 3 and 4 does not make any financial sense whatsoever. Secondly, the fact that the Chinese partner is subject to US sanctions would make it incredibly politically sensitive for Nuclearelectrica to continue on this path, considering the alliances.

We don’t expect this to happen”, said Meyer, responding to energynomics.ro’s questions. “What is clear is that Reactor 1 needs refurbishment, this is in the plan of the company and in order to ensure the future stability and operational ability of the company this is something that will have to be done and budgeted accordingly”, added Meyer.

FP owns about 7% of Nuclearelectrica.